Thursday, October 07, 2010

Teck, CP sign expanded coal-train agreement

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Teck Resources and Canadian Pacific have announced a new 10-year agreement for moving coal from five Teck mines in southeastern British Columbia to the Pacific Coast for export.

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Teck plans during the next few years to increase production at the mines by 50%, and CP said it agreed to enhance capacity to handle the higher volume.

Noting that Teck had won approval from Canadian regulators in 2009 to shift some of its coal traffic from CP to rival Canadian National, Chief Executive Don Lindsay said the company will continue to do so.