logo
CN Rail warns of ‘catastrophic impacts' as it seeks anti-flood barrier in Jasper park

CN Rail warns of ‘catastrophic impacts' as it seeks anti-flood barrier in Jasper park

Hamilton Spectator17 hours ago

VANCOUVER - CN Rail warns flooding could have 'catastrophic impacts' on cross-country services in legal action it has filed to force Parks Canada to consider a protective barrier for its main line through Jasper National Park.
Canadian National Railway Co. says in a Federal Court application that Parks Canada has wrongfully held up the work for nearly eight years by refusing to allow proposals to undergo environmental impact assessment.
The railway says Parks Canada is opposed to a proposal to use gravel dredged from the river to construct an anti-flooding berm.
The application filed last month says a portion of its main line that connects B.C. ports with the rest of the country is endangered by the risk that the Snake Indian River in the park will rapidly change course, in a phenomenon known as avulsion.
'CN's independent experts have concluded that the river adjacent to the CN main line is at impending and inevitable risk of a sudden and unpredictable avulsion in which the river will overtop its banks, rapidly abandon its existing channel and form a new river channel flowing directly downhill toward the main line,' the application says.
'An avulsion would have catastrophic impacts.'
The railway company says such an event could cause 'significant destruction' of its main rail line, 'long-term cessation' of east-west rail service, and a potential 'catastrophic train derailment.'
It says the main line is critical infrastructure for the Canadian economy.
The company declined to comment on the legal action, and Parks Canada did not provide comment on the company's claims by press time.
CN's application says the river overtopped its banks in 2016 due to winter ice jams, which required 'extensive emergency response measures in dangerous winter conditions' to protect rail infrastructure.
It says numerous studies have warned the river is at high risk of flooding in winter and summer, posing 'a real and imminent risk to CN's main line.'
CN's application says fixing the line if the river spills its banks would require work of 'unknown scope and duration.'
The company, the application says, has been working on proposals for long-term flood prevention since 2017, but Parks Canada has allegedly held up an impact assessment for nearly eight years.
'During that time, Parks Canada has repeatedly issued new and evolving guidance about how it conducts impact assessments,' the application says. 'CN's proposals have been repeatedly rebuffed by Parks Canada.'
CN says it presented its latest proposal to the agency in January 2024, with two options for the construction of a 'flood containment berm,' one using material brought from outside the park, and the other with gravel dredged from the river bed.
The second option, the application says, would have the additional effect of deepening the river, allowing the berm to be 'significantly smaller in size and have less of an impact on the adjacent habitat.'
Parks Canada has indicated in the past that it supports construction of a berm, according to a letter cited in CN's application, but is opposed to using materials from within the park.
CN estimated in 2020 that bringing in gravel and other material by truck and train would take two years on an 'optimistic schedule,' requiring approximately 2,000 truckloads and more than 1,200 full rail cars.
'If the material was transported by truck alone, it would require over 200 days of trucking and approximately 4,000 truck trips,' the application says.
Parks Canada rejected the idea of dredging the river, CN says, because the proposal 'does not conform with the regulatory and policy intent for a declared wilderness area in Jasper National Park.'
The railway's application seeks to overturn Parks Canada's decision denying its bid for an impact assessment.
'CN still does not know precisely what is required in order to advance its proposal to impact assessment, despite having provided far more information and detail than is required prior to an impact assessment,' the application says.
This report by The Canadian Press was first published June 13, 2025

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Diamcor Receives Section 244 Notice from Tiffany & Co.
Diamcor Receives Section 244 Notice from Tiffany & Co.

Yahoo

time2 hours ago

  • Yahoo

Diamcor Receives Section 244 Notice from Tiffany & Co.

KELOWNA, BC / / June 13, 2025 / Diamcor Mining Inc. (TSXV:DMI)(OTC PINK:DMIFF)(FRA:DC3A), ("Diamcor" or the "Company"), a well-established Canadian diamond mining company with a proven history in the mining, exploration, and sale of rough diamonds, announces that is has received a section 244(1) notice (the "s. 244 Notice") under the Bankruptcy and Insolvency Act (Canada) from Tiffany & Co. Canada ("Tiffany"), together with notice that an Event of Default has occurred under the Company's current loan and security agreements with Tiffany. The s. 244 Notice provides notice to the Company that Tiffany intends to enforce its security against all of the Company's present and after acquired personal property and all shares held by the Company in the capital of DMI Diamonds South Africa (Pty) Ltd. The s. 244 Notice provides that Tiffany must give 10 days' notice of its intention to enforce a security interest prior to taking any enforcement steps. The Company and Tiffany are currently exploring alternatives to the enforcement of the security. About Diamcor Mining Inc. Diamcor Mining Inc. is a fully reporting publicly traded Canadian diamond mining company with a well-established proven history in the mining, exploration, and sale of rough diamonds. The Company's primary focus is on the mining and development of its Krone-Endora at Venetia Project which is co-located and directly adjacent to De Beers' Venetia Diamond Mine in South Africa. The Venetia diamond mine is recognized as one of the world's top diamond-producing mines, and the deposits which occur on Krone-Endora have been identified as being the result of shift and subsequent erosion of an estimated 50M tonnes of material from the higher grounds of Venetia to the lower surrounding areas in the direction of Krone and Endora. Diamcor also focuses on the acquisition and development of mid-tier projects with near-term production capabilities and growth potential and uses unique approaches to mining that involves the use of advanced technology and techniques to extract diamonds in a safe, efficient, and environmentally responsible manner. The Company has a strong commitment to social responsibility, including the support of local people, communities, and the environment. About the Krone-Endora at Venetia Project Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers' flagship Venetia Diamond Mine in South Africa. The Company subsequently announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project's total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade "Alluvial" basal deposit which is covered by a lower-grade upper "Eluvial" deposit. These deposits are proposed to be the result of the direct-shift (in respect to the "Eluvial" deposit) and erosion (in respect to the "Alluvial" deposit) of an estimated 1,000 vertical meters of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine, which is widely recognised as the largest diamond mine in South Africa, and one of the most prolific diamond mines in the world. On behalf of the Board of Directors: Mr. Dean H. TaylorPresident & CEODiamcor Mining For further information contact: Mr. Dean H. TaylorDiamcor Mining IncDeanT@ 250 862-3212 This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. WE SEEK SAFE HARBOUR Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE: Diamcor Mining Inc. View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Carbeeza Announces Settlement Agreement
Carbeeza Announces Settlement Agreement

Yahoo

time2 hours ago

  • Yahoo

Carbeeza Announces Settlement Agreement

CALGARY, AB / / June 13, 2025 / Carbeeza Inc. ("Carbeeza" or the "Company") (TSXV:AUTO)(OTCQB:CRBAF) announces that, further to its news release of June 21, 2024, the Company has entered into a settlement and release agreement (the "Settlement") with Northern Micro Inc. and IDX Systems Corp. (the "Claimants"), in connection with a Statement of Claim filed by the Claimants for unpaid professional services. The claim relates to a licensing and service agreement, sublease, and sales agreement previously entered into between the Company and the Claimants. In consideration for the mutual full and final release of claims, the Company agreed to pay the Claimants $1,700,000, inclusive of applicable taxes, payable in monthly installments commencing from the date of the Settlement and continuing through to September 2027. The Company may, at its discretion, make additional payments in advance without penalty. Upon full payment of the settlement amount, the parties shall file a discontinuance of claim in Alberta. Carbeeza Inc. Carbeeza is a Canadian-based software company whose platform is targeted to the automotive marketplace. It is the first application to harness the power of Artificial Intelligence to accurately predict the best financing scenario for consumers, all while keeping the consumer anonymous. Using state-of-the-art technology, Carbeeza brings the process of buying a car right to the phone, tailor-made for the consumer. Carbeeza is highly beneficial to both consumers and auto dealers. ON BEHALF OF THE BOARD OF DIRECTORS OF CARBEEZA INC. Mark Tommasi, Chief Executive Officer Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. For further information please contact: Mark Tommasi, Interim Chief Executive OfficerEmail: Investorrelations@ 604 318 1448Website: SOURCE: Carbeeza Inc. View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Building a $42,000 TFSA That Generates Passive Income
Building a $42,000 TFSA That Generates Passive Income

Yahoo

time3 hours ago

  • Yahoo

Building a $42,000 TFSA That Generates Passive Income

Written by Sneha Nahata at The Motley Fool Canada Building a $42,000 Tax-Free Savings Account (TFSA) portfolio for generating passive income without tax worries involves investing in top Canadian dividend stocks. These TSX stocks have solid dividend payment and growth history, supported by their fundamentally strong businesses, growing earnings base, and sustainable payouts. Moreover, TFSA investors should focus on diversifying their TFSA portfolio to spread risk and generate steady income in all market conditions. For instance, investors could consider blue-chip stocks such as Enbridge (TSX:ENB), Fortis (TSX:FTS), and Royal Bank of Canada (TSX:RY). These companies have resilient businesses, which enable them to generate stable earnings regardless of market conditions, thereby rewarding shareholders through consistent dividend increases. Notably, energy infrastructure giant Enbridge has increased its dividend consistently for three decades. Moreover, the company aims for mid-single-digit growth in its annual dividend in the long term. Similarly, Canadian electric utility company Fortis has raised dividends for 51 consecutive years and is expected to continue growing them by 4-6% annually through 2029, driven by its expanding rate base. Moreover, the Canadian banking giant Royal Bank of Canada has increased its dividend by about 7% annually since 2014. Its high-quality assets, strong deposit base, and operational efficiency will drive future earnings, supporting higher payouts. Besides these top TSX dividend-paying stocks, let's look at a few more names that offer resilient payouts and attractive yields to generate tax-free passive income. Brookfield Renewable Partners (TSX: is an attractive stock for building a passive-income portfolio. Its highly diversified portfolio of renewable power assets, substantial operating capacity, and long-term, inflation-linked contracts position it well to generate solid funds from operations, which enables it to pay higher dividends. Notably, the company has increased its distributions by at least 5% annually for the past 14 years and currently offers a high yield of 5.8%. Brookfield Renewables is well-positioned for future growth thanks to its large development pipeline, rising demand for renewable energy, and a highly contracted portfolio with an average term of 14 years. Moreover, about 70% of its contracts are tied to inflation, supporting organic growth. In addition, its low operating costs and ongoing asset recycling efforts further strengthen its growth prospects. Thanks to its resilient earnings base, Brookfield's management expects to deliver a total return of 12% to 15% annually in the long term, implying that the company can continue to grow its dividend at a healthy pace. In short, its consistent dividend growth history, sustainable payouts, high yield, and visibility into future payments make it a solid investment for TFSA investors seeking steady passive income. Telus (TSX:T) is another top pick for investors seeking dependable, long-term passive income. The telecom leader has a strong track record of rewarding shareholders. Telus has raised its quarterly dividend 27 times since 2011. Moreover, it currently offers a juicy 7.5% dividend yield. Telus plans to grow its dividends by 3%–8% annually through 2028 while keeping a healthy payout ratio of 60–75% of free cash flow. Notably, its ability to profitably expand its user base, low churn rate, and disciplined capital spending will support future dividend payments. Moreover, Telus is investing in network upgrades and spectrum to stay competitive and expand its 5G offering. Additionally, its focus on diversifying the revenue base and reducing costs bodes well for growth, enabling the company to consistently reward its shareholders. The post Building a $42,000 TFSA That Generates Passive Income appeared first on The Motley Fool Canada. More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube Fool contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Renewable Partners, Enbridge, Fortis, and TELUS. The Motley Fool has a disclosure policy. 2025

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store