Teck and Ridley Terminals Announce Agreement
Teck Resources Limited announced 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, two New York based private equity firms, 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.”