Suncor delays new mine one year
Nov 1, 2012 at 6:23 pm in Business, News by tyler.king
Suncor has confirmed it’s delaying its new Fort Hills oil sands mine by a full year.
The company says oil will likely start flowing from the project in 2017.
Suncor has a 41 percent stake in the project, which is 90 kilometres north of Fort McMurray.
It’s designed to eventually produce 140 thousand barrels per day.
It’s a joint venture between Suncor and French company Total (toh-TAHL) S-A.
CEO Steve Williams says the company is focusing on improving profit and quality instead of just meeting timelines.
November 1, 2012