Teck and Ridley Terminals Announce Agreement
January 08 2020 - 9:00AM
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.
Forward-Looking Statements - Teck This press
release contains certain forward-looking statements within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and forward-looking information as defined in the
Securities Act (Ontario). Forward-looking statements and
information can be identified by the use of words such as
"expects", "intends", "is expected", "potential" or variations of
such words and phrases or statements that certain actions, events
or results "may", "could", "should", "would", "might" or "will" be
taken, occur, or be achieved. Forward-looking statements include
statements regarding increased shipment volumes through Ridley
terminal, and expected greater flexibility and improvement in
overall performance throughout Teck's steelmaking coal supply
chain.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of Teck to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements.
Factors that may cause actual results to vary include, but are
not limited to, operational difficulties including those caused by
inclement weather, failures in performance of other logistics
providers, including rail service providers to Ridley terminal,
unplanned disruptions in transportation and terminal services,
changes in general economic conditions, permitting issues or
changes in laws or regulations, failures in performance by
contractual counterparties, and other risk factors as detailed from
time to time in Teck's reports filed with Canadian securities
administrators and the U.S. Securities and Exchange Commission.
Certain of these risks are described in more detail in the
annual information form of Teck and in its public filings with
Canadian securities administrators and the U.S. Securities and
Exchange Commission. Teck does not assume the obligation to revise
or update these forward-looking statements after the date of this
document or to revise them to reflect the occurrence of future
unanticipated events, except as may be required under applicable
securities laws.
About TeckTeck 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:Chris Stannell Public
Relations Manager604.699.4368chris.stannell@teck.com
Teck Investor Contact:Fraser PhillipsSenior
Vice President, Investor Relations and Strategic
Analysis604.699.4621fraser.phillips@teck.com
Ridley Terminals Inc. Media Contact:Michelle
Bryant-Gravelle Corporate Affairs Manager
250.627.3585mbryant@rti.ca
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