Fording and Teck Cominco announce collective agreement ratified at Elkview Operations
June 13 2006 - 6:30PM
PR Newswire (US)
CALGARY, June 13 /PRNewswire-FirstCall/ -- Fording Canadian Coal
Trust (TSX: FDG.UN, NYSE: FDG) and Teck Cominco Limited (TSX: TEK.A
and TEK.B) today received notification from Elk Valley Coal that
the collective agreement with Local 9346 of the United Steel
Workers of America at its Elkview Operations in southeast British
Columbia has been ratified by the members. The five-year agreement
covers the period from November 1, 2005 to October 31, 2010. The
Elkview Operations have an annual production capacity of
approximately 6 million tonnes of coal. With the settlement of this
agreement, all four of Elk Valley Coal's unionized mines located in
southeast British Columbia are now covered under long term labour
contracts. Fording Canadian Coal Trust is an open-ended mutual fund
trust. Through investments in metallurgical coal and industrial
minerals mining and processing operations, the Trust makes
quarterly cash distributions to unitholders. The Trust, through its
wholly owned subsidiaries, holds a 60% interest in the Elk Valley
Coal Partnership and is a leading producer of the industrial
mineral wollastonite. Elk Valley Coal, comprised of Canada's senior
metallurgical coal mining properties, is the world's second largest
exporter of metallurgical coal, supplying high-quality coal
products to the international steel industry. The Trust's shares
are traded on the Toronto Stock Exchange under the ticker symbol
FDG.UN and on the New York Stock Exchange under the symbol FDG.
Teck Cominco is a diversified mining company, headquartered in
Vancouver, Canada. Shares are listed on the Toronto Stock Exchange
under the symbols TEK.A and TEK.B. The company is a world leader in
the production of zinc and metallurgical coal and is also a
significant producer of copper, gold and specialty metals. Further
information can be found at http://www.teckcominco.com/.
DATASOURCE: Fording Canadian Coal Trust CONTACT: Fording Canadian
Coal Trust, Media Contact, Dermot Lane, Director, Corporate
Communications, (403) 260-9816; Investors, Paul Armstrong,
Director, Investor Relations, (403) 260-5215; Teck Cominco Limited,
Media Contact, David Parker, Director, Corporate Affairs &
Sustainability, (604) 687-1117; Investors, Greg Waller, Director,
Financial Analysis & Investor Relations, (604) 685-3005
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