Hammerstone Project

The Hammerstone Quarry Project was an expansion of Birch Mountain Resources' Muskeg Valley Quarry in Northern Alberta, north of Fort McMurray, in Fort McKay, where Birch Mountain owned mineral rights on nearly one million acres in the heart of the oil sands region.

In the 2006 EIA report, Birch Mountain Resources estimated that the Project construction cost would be about $674 million (2006 dollars).

Birch Mountain Resources modified the processing plant design in 2007 and the resulting construction cost was revised to $578 million.

The assets were transferred on Jan 8, 2009 and included nearly 1 billion tonnes of limestone reserves, along with permits and leases for limestone and other minerals covering over 700,000 additional acres, to Alberta Corporation 1439442, subsidiary of Tricap Partners Ltd. now operating privately under the name Hammerstone Corporation, a subsidiary of Brookfield Asset Management Special Situations Group for approximately $50 million.

[3][4] The assets from the Hammerstone Quarry Project were valued at over $1.6 Billion dollars in an independent NI 43-101 Technical Report conducted by AMEC in 2006.

[12] The Appeal over the Hammerstone Project MegaQuarry was heard on June 15, 2016, in Alberta and a decision is expected in the summer of 2016.