Teck and Ridley Terminals Announce Coal Shipment Agreement

Teck Resources Limited (TSX:TCK.A,TSX:TCK.B,NYSE:TCK) announced it has reached an agreement with Ridley Terminals regarding steelmaking coal shipments.

The press release is quoted as saying:

The new agreement contemplates Teck shipping 2.5 million tonnes of coal per year throughout the contract period, and is a successor to an existing agreement expiring at the end of 2014, which allows Teck to ship up to 1.2 million tonnes in 2011 and 2012, and up to 4.2 million tonnes in 2013 and 2014 pending the re-start of Teck’s Quintette operation.

Click here to read the entire news release.