Fording Canadian Coal Trust
 | |
| Company type | Public (TSX: FDG.UN; NYSE: FDG); Royalty trust |
|---|---|
| Industry | Mining |
| Founded | 2003 |
| Defunct | 2008 |
| Fate | Takeover |
| Successor | Teck Cominco |
| Headquarters | Calgary, Alberta, Canada |
Key people | Michael A. Grandin Boyd Payne (President) |
| Products | Bituminous coal |
Number of employees | 1,855 (2008)[1] |
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]- ^ a b "Company Profile for Fording Canadian Coal Trust (FDG)". Retrieved 2008-10-08.
- ^ Neptune Terminals
- ^ "Fording: Trust Reorganization". Archived from the original on 2008-03-14. Retrieved 2008-05-09.
External links
[edit]- Fording website (Feb. 2, 2008 snapshot from the Internet Archive)
- Elk Valley Coal website (Jan. 13, 2008 snapshot from the Internet Archive)
