Teck Cominco Limited

Teck Cominco Limited

June 02, 2006 16:33 ET

Teck Cominco and Fording Announce Receipt of Strike Notice at Elkview Operations

VANCOUVER, BRITISH COLUMBUA--(CCNMatthews - June 2, 2006) - Teck Cominco Limited (TSX:TEK.MV.A)(TSX:TEK.SV.B.) and Fording Canadian Coal Trust (TSX:FDG.UN)(NYSE:FDG) today announced that Elk Valley Coal has been served strike notice by Local 9346 of the United Steel Workers of America at its Elkview Operations in southeast British Columbia. The collective agreement at the mine expired on October 31, 2005.

The strike notice terminated the mediation process and provided notice that a strike at Elkview will commence as early as Wednesday, June 7, 2006. Elk Valley Coal has advised Fording and Teck Cominco that it will continue its efforts to reach a new collective agreement for the Elkview Operations.

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 unit holders. 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.MV.A and TEK.SV.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
    Teck Cominco Limited
    Investors: Paul Armstrong
    Director, Investor Relations
    (403) 260-5215
    Teck Cominco Limited
    Media Contact: David Parker
    Director, Corporate Affairs & Sustainability
    (604) 687-1117
    Teck Cominco Limited
    Investors: Greg Waller
    Director, Financial Analysis & Investor Relations
    (604) 685-3005
    Website: www.teckcominco.com