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Ridley Terminals signs agreement for more coal from Coalspur
Ridley Terminals in Prince Rupert signed an agreement with an existing customer on March 29 that will further add to the tonnage being exported from the terminal.
Coalspur Mines Ltd. reach an agreement with RTI to increase its throughput by five million tonnes per year, subject to government approval and the addition of a fourth stacker/reclaimer as part of the expansion taking place at the facility. The agreement is for thermal coal from Coalspur's Vista Coal Project.
The agreement adds to the 8.5 million tonnes from an October agreement the company signed with Ridley Terminals, bringing the total volume up to 13.5 million tonnes, with 10 million tonnes committed and the option for an additional 3.5 million tonnes. That amount more than meets the needs of the Vista project, which coveres 10,000 hectares in the Hinton, Alberta region and could be the largest export thermal coal mine in the country with an annual capacity of 11.2 million tonnes per year for 30 years.
"We are confident that a portion of that excess port capacity will be utilized through production enhancements at Vista that are currently underway as part of the ongoing engineering," said Coalspur CEO Gene Wusaty in a statement.