An American billionaire who owns the company that operates an Alberta mine has been killed in a helicopter crash.

Chris Cline was one of seven people killed in the crash in the Bahamas.

Cline and his party were reported missing after they failed to arrive in Fort Lauderdale, FL on Thursday as expected.

Cline was the owner of the Cline Group, which operates the Vista coal mine in Hinton, and the Donkin coal mine in Cape Breton, NS.

The cause of the crash is still under investigation.  

With files from the Associated Press