U.K. Company Moves Ahead On Canadian Pellet Plant

Monday 06 August 2007

Libra Natural Resources, a London-based company that acquires and invests in waste-to-energy assets, has announced the completion of its acquisition of all development rights associated with a proposed pellet plant in the West Kootenay region of British Columbia, Canada.

Libra Natural Resources is planning to build a 60,000 metric ton plant at a cost of approximately $5.6 million. Construction is expected to take six months and operations are slated to begin during the first quarter of 2008.

The acquisition is the British company's latest endeavor in the Canadian pellet fuel market. In June, it announced plans to upgrade its wood pellet production plants in the British Columbian towns of Westbank and Princeton