Teck and Ridley Terminals Announce Agreement
Vancouver, B.C. – Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) announced today an expanded commercial agreement with Ridley Terminals Inc. (RTI) for shipments of steelmaking coal from Teck’s British Columbia operations.
The agreement runs from January 2021 to December 2027, and increases contracted capacity from 3 million tonnes per annum (Mtpa) to 6 Mtpa with an option for Teck to extend up to 9 Mtpa. This will enable Teck to increase its shipment volumes through the Ridley terminal to provide greater flexibility and improved performance within its overall steelmaking coal supply chain.
“This agreement with Ridley Terminals, in combination with upgrades underway at our Neptune Terminal and our recent agreement with CN, will contribute to improved overall performance throughout our steelmaking coal supply chain,” said Don Lindsay, President and CEO of Teck. “We are looking forward to building on our strong working relationship with RTI and new principal owners Riverstone-AMCI to safely and efficiently transport our product to customers.”
“Teck is a long time, valued customer of RTI,” said Marc Dulude, President and COO of Ridley Terminals Inc. “This agreement further solidifies our strong relationship and demonstrates our commitment to our customers to provide fast, efficient, and reliable service. RTI is proud to be a part of Teck’s long term development plan and vision.”
The terms of the agreement are confidential.
Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, steelmaking coal, zinc and energy. Headquartered in Vancouver, Canada, its shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.
Teck Media Contact:
Public Relations Manager
Teck Investor Contact:
Senior Vice President, Investor Relations and Strategic Analysis
Ridley Terminals Inc. Media Contact:
Corporate Affairs Manager