 |
Perth, Nov 10, 2011 (ABN Newswire) - Canadian National Railway Company ("CN") (
TSE:CNR) (NYSE:CNI) and Coalspur Mines Limited ("Coalspur") (ASX:CPL) (TSE:CPT) announced today that they have signed a Memorandum of Understanding (MOU) under which they will develop a high-quality logistics supply chain to transport export thermal coal from Coalspur's Vista Coal Project (Vista) near Hinton, Alberta, to Western Canadian ports starting in 2015.
The MOU establishes the framework for an agreement that will accommodate Coalspur's plan to commence coal production in 2015 at a rate of approximately 2.5 million tonnes per annum (Mtpa), rising to about 11.2 Mtpa by 2019.
CN will transport Vista production to west coast ports including Ridley Terminals Inc. (RTI), located at the Port of Prince Rupert, British Columbia. Coalspur recently signed a throughput agreement with RTI to handle up to 8.5 Mtpa of export coal at the terminal.
CN and Coalspur will jointly design and build a rail siding at the Vista site capable of handling the loading of 175-car unit trains at a full capacity of gross weight on rail of 286,000 pounds per car.
The two parties expect to negotiate a definitive transportation agreement in 2012, following completion of Coalspur's ongoing Bankable Feasibility Study on Vista.
Jean-Jacques Ruest, CN executive vice-president and chief marketing officer, said: "CN will work closely with Coalspur to build an efficient and effective logistics process for its export coal. CN has developed a comprehensive, end-to-end supply chain strategy to manage coal flows from mines to west coast terminals. This approach, coupled with strong customer collaboration, will help Coalspur maximize sales opportunities in global markets."
Gene Wusaty, managing director and chief executive officer of Coalspur, said: "Rail is a critical link in connecting Vista's coal to international markets and an agreement with North America's most efficient rail carrier will help ensure a reliable and effective supply chain."
About CN
CN - Canadian National Railway Company and its operating railway subsidiaries - spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico, serving the ports of Vancouver, Prince Rupert, British Columbia, Montreal, Halifax, New Orleans, and Mobile, Alabama, and the key metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth, Minnesota/Superior, Wisconsin, Green Bay, Wisconsin, Minneapolis/St. Paul, Memphis, and Jackson, Mississippi, with connections to all points in North America. For more information on CN, visit the company's website at www.cn.ca.
TSE:CNR) (NYSE:CNI) and Coalspur Mines Limited ("Coalspur") (ASX:CPL) (TSE:CPT) announced today that they have signed a Memorandum of Understanding (MOU) under which they will develop a high-quality logistics supply chain to transport export thermal coal from Coalspur's Vista Coal Project (Vista) near Hinton, Alberta, to Western Canadian ports starting in 2015.The MOU establishes the framework for an agreement that will accommodate Coalspur's plan to commence coal production in 2015 at a rate of approximately 2.5 million tonnes per annum (Mtpa), rising to about 11.2 Mtpa by 2019.
CN will transport Vista production to west coast ports including Ridley Terminals Inc. (RTI), located at the Port of Prince Rupert, British Columbia. Coalspur recently signed a throughput agreement with RTI to handle up to 8.5 Mtpa of export coal at the terminal.
CN and Coalspur will jointly design and build a rail siding at the Vista site capable of handling the loading of 175-car unit trains at a full capacity of gross weight on rail of 286,000 pounds per car.
The two parties expect to negotiate a definitive transportation agreement in 2012, following completion of Coalspur's ongoing Bankable Feasibility Study on Vista.
Jean-Jacques Ruest, CN executive vice-president and chief marketing officer, said: "CN will work closely with Coalspur to build an efficient and effective logistics process for its export coal. CN has developed a comprehensive, end-to-end supply chain strategy to manage coal flows from mines to west coast terminals. This approach, coupled with strong customer collaboration, will help Coalspur maximize sales opportunities in global markets."
Gene Wusaty, managing director and chief executive officer of Coalspur, said: "Rail is a critical link in connecting Vista's coal to international markets and an agreement with North America's most efficient rail carrier will help ensure a reliable and effective supply chain."
About CN
CN - Canadian National Railway Company and its operating railway subsidiaries - spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico, serving the ports of Vancouver, Prince Rupert, British Columbia, Montreal, Halifax, New Orleans, and Mobile, Alabama, and the key metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth, Minnesota/Superior, Wisconsin, Green Bay, Wisconsin, Minneapolis/St. Paul, Memphis, and Jackson, Mississippi, with connections to all points in North America. For more information on CN, visit the company's website at www.cn.ca.
| Tweet |
About Coalspur Mines Limited
Coalspur Mines Limited ("Coalspur" or "Company") is a coal exploration and development company with approximately 40,600 hectares of coal leases located within the Hinton region of Alberta, Canada. Coalspur’s flagship coal project is the Vista Coal Project (“Vista”) which has the potential to be the largest export thermal coal mine in Canada.
Vista covers approximately 9,984 hectares and provides a large scale, surface mineable, thermal coal project. Vista has the advantage of leveraging off of established first world infrastructure with CN Rail’s main line located adjacent to Vista which is substantially underutilised and provides a rail line suitable for the transport of coal to deepwater ports on Canada’s west coast. Coalspur has also secured a port allocation agreement with Ridley Terminals Inc. which is essential to the logics supply chain necessary to export coal from Vista to the growing demand from the Asia Pacific Rim countries, including China, Japan, and Korea.
A feasibility study was completed on Vista in January 2012, which defined a 30 year mine plan with forecast annual production capacity of 11.2Mtpa. Marketable Coal Reserves on Vista are 313Mt from a Recoverable Coal Reserve of approximately 566Mt. Initial development costs for Vista are expected to be approximately C$860 million with an additional approximately C$370 million required to reach full capacity.
Coalspur has offices in Calgary and Hinton in Canada as well as in Australia. The Company is dual listed on the Toronto Stock Exchange ("TSX") under the symbol "CPT" and on the Australian Securities Exchange ("ASX") under the symbol "CPL".
|
||
|
 |
Related Companies |
>>> Canadian National Railway Company >>>       Coalspur Mines Limited |
| |
Related Industry Topics: |
Energy General | Financial General | Mining | Coal | |
| |
This Page Viewed: (Last 7 Days: 130) (Last 30 Days: 650) (Since Published: 8980) |
Events & Exhibitions
|
Site Search
| ENGLISH All Languages |
Upcoming WebCasts
 | Mr Mark Paton CEO Cue Energy Resources Tuesday, June 12, 2012 |
 | Mr Alan Hopkins CEO Pan Asia Corporation Tuesday, June 12, 2012 |
 | Mr Barry Dawes Martin Place Securities Tuesday, June 12, 2012 |
 | Dr Andrea Grant CEO Living Cell Technologies Monday, July 02, 2012 |
Companies in the News
Mobile Video TV
|
||
|
||
){kind=link}