The Alberta government is paying out $95 million to a coal mining company to end another one of the lawsuits launched against it over its policy flip-flop more than two years ago.

The settlement with Evolve Power brings Alberta’s overall payout so far to nearly $240 million, as a separate agreement reached with another company, Atrum Coal, earlier this year saw the government pay $143 million.

A notice published by Evolve Power, previously known as Montem Resources, to its shareholders last week says it is surrendering two coal leases to the government as part of the deal.

“The board of directors, based on legal advice, believe this settlement is the best possible outcome having regard to the government’s actions and the impact on Montem,” the notice reads.

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