Athabasca Minerals purchases gravel pits
Athabasca Minerals purchased two gravel pits located in the Wood Buffalo region of Alberta, Canada.
The company acquired KM248 and Cowpar gravel properties for $600,000, according to Athabasca Minerals.
Through an agreement with DeneCo Aggregates, Athabasca has been the developer and operator of the KM248 and Cowpar gravel pits since 2014. Under the terms of the agreement, Athabasca paid a royalty to DeneCo based on aggregate deliveries from the two pits. Athabasca will no longer be subject to the royalty payments now that it’s purchased the two pits.
“The acquisition of these pits is strategically significant for Athabasca in this region,” says Bill Woods, CFO at Athabasca. “The corporation is aggressively looking for other sand-and-gravel pit acquisition opportunities.”
Athabasca Minerals is a resource company involved in the management, exploration and development of aggregate projects.
About the Author: Allison Kral
Allison Kral is the former senior digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.Subscribe to Pit & Quarry
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