Favourable Federal Court Ruling Received Regarding Cheviot Pit at Cardinal River Operations
19 Agosto 2005 - 11:52PM
PR Newswire (US)
Federal Court of Canada Dismisses Application CALGARY, Aug. 19
/PRNewswire-FirstCall/ -- Fording Canadian Coal Trust (TSX: FDG.UN,
NYSE: FDG) today advised that Elk Valley Coal has received the
Federal Court of Canada ruling with respect to two applications for
judicial review of approvals for the development of the Cheviot pit
at its Cardinal River operations. The ruling held that the
Department of Fisheries and Oceans (DFO) appropriately exercised
its duties with due diligence in its assessment review of the
project and dismissed the applications. The applications were filed
by the Sierra Legal Defence Fund on behalf of five environmental
groups. The Cheviot project was approved in 2000 following a
thorough and lengthy environmental assessment process that spanned
eight years. The Federal Court determined that the DFO properly
applied regulatory process to the project according to law and that
Elk Valley Coal secured all necessary provincial mining and
environmental approvals and complied with all regulatory
requirements in the development of the project. Development of the
Cheviot project at Cardinal River operations is substantially
complete and coal production is underway. Fording anticipates that
the full annualized production rate of 2.8 million tonnes per year
will be achieved at the mine near the end of 2005. 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, and
expects to supply approximately 27 million tonnes of high-quality
coal products to the international steel industry in 2005. 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. Forward-looking Information Certain information
included in this document is of a forward-looking nature.
Forward-looking information is subject to known and unknown risks,
as well as uncertainties and other factors. Accordingly, actual
results may differ materially from those expressed or implied in
forward-looking information. Some of the risks, uncertainties and
other factors affecting Fording Canadian Coal Trust are discussed
in our public filings with the securities regulatory authorities in
Canada and the United States. Copies of Fording Canadian Coal
Trust's Canadian filings, including our most recent management
information circular, annual information form, annual report,
quarterly reports, material change reports and news releases, are
available online at http://www.sedar.com/, and copies of our U.S.
filings, including our most recent annual report on Form 40-F as
supplemented by filings on Form 6-K, are available at
http://www.sec.gov/. Information in this document is presented as
of August 19, 2005 and is subject to change after this date.
However, Fording Canadian Coal Trust disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
DATASOURCE: Fording Canadian Coal Trust CONTACT: Susan J.
Soprovich, Director, Investor Relations, (403) 260-9834; Catherine
Hart, Investor Relations Analyst, (403) 260-9817; Email: , Website:
http://www.fording.ca/
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