Teck Resources announced an expanded commercial agreement with Ridley Terminals (RTI) for shipment of steelmaking coal from their British Columbia operations.
Under this agreement, Teck will increase its supply of steelmaking coal from 3mn mt to 6mn mt per year with an option to further increase it to 9mn mt.
Additionally, The new agreement—which is expected to run for six years starting January 2021—will allow the steelmaking coal supplier to increase its shipment volumes through RTI with greater flexibility and improved performance in the steelmaking coal supply chain, Teck announced.
Don Lindsay, president and chief executive officer of Teck Resources said that this agreement with Ridley and their recent agreement with CN along with upgrades at the Neptune terminal will enable Teck to improve its performance in the overall steelmaking coal supply chain.
According to Marc Dulude, president and chief executive officer of Ridley Terminals the agreement will solidify the relationship between the two companies and enable them to demonstrate fast, reliable and efficient service to their customers.