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Sanctioning go ahead for Fort Hills Mine

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Report summary

The long-expected final investment decision for the Fort Hills Mine was granted on 30 October 2013 and construction will proceed ahead of a Q4 2017 start-up. This ends a period of uncertainty for the 180,000-b/d project, which was put on hold in 2008 amidst rampant sector-wide cost inflation.

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Table of contents

  • Strong cash flow generation drives project green light
  • Suncor adds to its mining prowess, while Total and Teck will establish first mining production
  • Mining costs are challenging but operator experience provides budget and timeline confidence
  • Market access remains a concern for the industry
  • Economic assumptions

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