Fording Canadian Coal Trust

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Fording Canadian Coal Trust
Public (TSX: FDG.UN; NYSE: FDG); Royalty trust
IndustryMining
FateTakeover
SuccessorTeck Cominco
Founded2003
Defunct2008
HeadquartersCalgary, Alberta, Canada
Key people
Michael A. Grandin
Boyd Payne (President)
ProductsBituminous coal
Number of employees
1,855 (2008)[1]
Websitewww.fording.ca Edit this on Wikidata

Fording Canadian Coal Trust (NYSE: FDG; TSX:FDG) was a Canadian-based royalty trust which owned a 60% stake in the Elk Valley Coal Partnership (EVCP), which in turn produced hard-coking metallurgical coal, primarily for steel production, at its facility in Elk Valley, British Columbia. Through the EVCP it also owned a 46% interest in Neptune Bulk Terminals (Canada) Ltd.,[2] which operates a dedicated coal berth at the Port of Vancouver. Its market capitalization was $11-billion USD in 2008.[1]

The trust was formed in 2003 to assemble various assets from Luscar Ltd./CONSOL Energy Canada Ltd. joint ventures, Teck Cominco Ltd., and the former Fording Coal Ltd. (which was originally a unit of Canadian Pacific Railway until October 2001).[3]

On July 29, 2008, Teck Cominco announced an agreement with Fording to purchase 100% of its assets; Teck Cominco had been the minority owner of the Elk Valley Coal Partnership, with a 40% stake. The purchase was closed on October 30, 2008, with a final cost of $14-billion USD to Teck. Elk Valley Coal Corporation will be renamed Teck Coal Limited.

References[edit]

  1. ^ a b "Company Profile for Fording Canadian Coal Trust (FDG)". Retrieved 2008-10-08.
  2. ^ Neptune Terminals
  3. ^ Fording: Trust Reorganization

External links[edit]