Ridley Terminals could see tripling of shipments from Teck Resources

Shipment volumes are set to increase through Ridley Terminals
that following a new agreement between RTI and BC Based Teck Resources

A new six year agreement between Teck Resources and Ridley Terminals Inc. of Prince Rupert will see some significant increases to shipment levels out of the Ridley Island facility through to December of 2027.

The agreement signed last week week will see Teck increase its current shipment level of steelmaking coal through Ridley from current levels of three million tonnes per year to 6 million tonnes with an option to extend that commitment to 9 million tonnes.

Don Lindsay, the President and CEO of Teck Resources, noted that the new agreement with RTI, as well as a recent shipment agreement with CN Rail and upgrades at their terminal in the lower mainland will all serve to improve the company's overall performance.

In particular the President and CEO observed how the company is excited with the opportunity to work with the new ownership at the Prince Rupert terminal.

“We are looking forward to building on our strong working relationship with RTI and new principal owners Riverstone-AMCI to safely and efficiently transport our product to customers.”

For his part, RTI President and COO Marc Dulude highlighted the long time relationship that Ridley Terminals has with Teck and how it shows confidence in Ridley's abilities to deliver their product.

“Teck is a long time, valued customer of RTI. This agreement further solidifies our strong relationship and demonstrates our commitment to our customers to provide fast, efficient, and reliable service. RTI is proud to be a part of Teck’s long term development plan and vision.”

The financial terms of the agreement remain confidential, but you can explore more of the announcement here.

Teck has operations across British Columbia and Alaska, as well as globally, you can review some of their mining locations here.

As we outlined last month, the new ownership of Ridley Terminals, which is made up of International investors, along with the Lax Kw'alaams Band and Metlakatla First Nation officially took over the management of the industrial terminal in December.

For more notes on developments from RTI see our archive page here.

Cross posted from the North Coast Review.