Fording Canadian Coal Trust
Fording Canadian Coal Trust was a Canadian-based royalty trust which owned a 60% stake in the Elk Valley Coal Partnership, 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 Ltd., which operates a dedicated coal berth at the Port of Vancouver. Its market capitalization was $11-billion USD in 2008.
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..
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.
