Elk Valley Coal Partnership

Elk Valley Coal Partnership

June 13, 2006 23:59 ET

Fording and Teck Cominco Announce Collective Agreement Ratified at Elkview Operations

CALGARY--(CCNMatthews - June 13) - 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 www.teckcominco.com.

Contact Information

  • Fording Canadian Coal Trust
    Media Contact
    Dermot Lane
    Director, Corporate Communications
    (403) 260-9816
    or
    Fording Canadian Coal Trust
    Investors
    Paul Armstrong
    Director, Investor Relations
    (403) 260-5215
    or
    Teck Cominco Limited
    Media Contact
    David Parker
    Director, Corporate Affairs & Sustainability
    (604) 687-1117
    or
    Teck Cominco Limited
    Investors
    Greg Waller
    Director, Financial Analysis & Investor Relations
    (604) 685-3005