Ridley to get millions of tonnes of coal from new BC mine

Ridley Terminals and Cardero Resource Corp. have signed a contract that could mean 900,000 tonnes of new coal at Ridley by 2015.

Cardero Resource Corp. is planning to open a new coal mining operation in northeast BC that will send millions of tones of new coal to the terminal on Ridley Island.

The company just finished the pre-feasibility study of the mine site at Carbon Creek, about 40 kilometres west of Hudson’s Hope. A geological survey of the site has estimated that there are at least 468-million tonnes of coal in the ground ready to be mined. Through the use of underground and surface mining, Cardero believes that it will be able to dig out 4.085-million tonnes of it a year over the twenty-year life of the project.

The company has signed a 15-year contract with Ridley Terminals for 500,000 tonnes a year of port capacity starting in 2014, increasing to 900,000 tonnes by 2015. The contract hinges on Ridley getting a fourth stacker at the coal terminal, which they are expecting to get government approval for this year.