Elk Valley Coal and CPR continue mediation process in coal transportation contract dispute
03 Febbraio 2005 - 2:00PM
PR Newswire (US)
Elk Valley Coal and CPR continue mediation process in coal
transportation contract dispute CALGARY, Feb. 3
/PRNewswire-FirstCall/ -- Fording Canadian Coal Trust (TSX: FDG.UN,
NYSE: FDG) and Canadian Pacific Railway (TSX/NYSE: CP) today said
that Elk Valley Coal and CPR continue to be engaged in mediation to
attempt to resolve the issues between them concerning the
transportation of coal from Elk Valley Coal's mines in southeastern
British Columbia to Vancouver area ports for overseas export.
Pending the outcome of mediation, which commenced on Jan. 20, 2005,
the Canadian Transportation Agency has agreed to the parties'
request to stay a ruling on whether final offer arbitration is
applicable to the freight rate to ship coal from Elk Valley Coal's
Elkview mine. The Elkview mine is one of five Elk Valley Coal mines
in southeastern British Columbia. For further information, please
refer to a joint news release issued by Fording Canadian Coal Trust
and CPR on January 17, 2005, Fording Canadian Coal Trust's news
release of December 14, 2004, and CPR's news release of December
13, 2004. About Fording 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 unitholders. The Trust,
through its wholly-owned subsidiary, Fording Inc., holds a 60%
interest in the Elk Valley Coal Partnership and is the world's
largest producer of the industrial mineral wollastonite. Elk Valley
Coal Partnership, comprised of Canada's senior metallurgical coal
mining properties, is the world's second largest exporter of
metallurgical coal, capable of supplying approximately 25 million
tonnes of high-quality coal products annually 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. About Canadian Pacific Railway
Canadian Pacific Railway is a transcontinental carrier operating in
Canada and the U.S. Its 14,000-mile rail network serves the
principal centres of Canada, from Montreal to Vancouver, and the
U.S. Northeast and Midwest regions. CPR feeds directly into
America's heartland from the East and West coasts. Alliances with
other carriers extend its market reach throughout the U.S. and into
Mexico. Canadian Pacific Logistics Solutions provides logistics and
supply chain expertise worldwide. For more information, visit CPR's
website at http://www.cpr.ca/. DATASOURCE: Canadian Pacific
Railway; Fording Canadian Coal Trust CONTACT: Fording Canadian Coal
Trust: Susan J. Soprovich, Director, Investor Relations, (403)
260-9834, ; Catherine Hart, Coordinator, Investor Relations, (403)
260-9817, ; Canadian Pacific Railway: Paul Bell, Vice-President,
Investor Relations, Tel.: (403) 319-3591, ; Len Cocolicchio (media
relations), Tel.: (403) 319-7591,
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