Media Kit » Try RailPrime™ Today! »
Progressive Railroading
Newsletter Sign Up
Stay updated on news, articles and information for the rail industry



This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.




railPrime
View Current Digital Issue »


RAIL EMPLOYMENT & NOTICES



Rail News Home Rail Industry Trends

10/7/2010



Rail News: Rail Industry Trends

CP lands long-term coal contract from Canadian miner


advertisement

Yesterday, Canadian Pacific announced it reached a 10-year agreement with mining company Teck Resources Ltd. to transport steelmaking coal westbound from five southeast British Columbia mines to Vancouver-area ports.

The pact, which takes effect April 1, 2011, calls for CP to enhance its coal-handling capacity to accommodate the miner's volume growth.

“This agreement gives Teck the certainty we need to realize our growth strategy in coal and to deliver our increased production on a timely basis to our key markets,” said Teck Resources President and Chief Executive Officer Don Lindsay in a prepared statement.

The parties plan to work jointly to increase the volume of transported coal “through a range of economic and marketplace dynamics,” according to CP and Teck Resources officials.

“Our ongoing dialogue has provided new and deeper insight into Teck’s growth objectives,” said CP President and CEO Fred Green. “Importantly, the agreement provides the stability and confidence to grow our business and enhance this world-class supply chain for our mutual benefit.”


Contact Progressive Railroading editorial staff.

More News from 10/7/2010