Fording Canadian Coal Trust
TSX : FDG.UN
NYSE : FDG

Fording Canadian Coal Trust

June 08, 2006 23:59 ET

Fording and Teck Cominco Announce Tentative Agreement at Elkview Operations

CALGARY--(CCNMatthews - June 8) - 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 of a tentative agreement with Local 9346 of the United Steel Workers of America at its Elkview Operations in southeast British Columbia. The agreement is subject to ratification by the members, expected to be completed on Monday June 12th. The five-year agreement would cover 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.

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 www.teckcominco.com.

Contact Information

  • Fording Canadian Coal Trust
    Dermot Lane
    Director, Corporate Communications
    (403) 260-9816

    or

    Paul Armstrong
    Director, Investor Relations
    (403) 260-5215

    or

    Teck Cominco Limited
    David Parker
    Director, Corporate Affairs & Sustainability
    (604) 687-1117

    or

    Greg Waller
    Director, Financial Analysis & Investor Relations
    (604) 685-3005