{"id":1153439,"date":"2019-12-04T14:23:26","date_gmt":"2019-12-04T20:23:26","guid":{"rendered":"https:\/\/www.mining.com\/?p=1008444"},"modified":"2019-12-04T14:23:26","modified_gmt":"2019-12-04T20:23:26","slug":"teck-signs-125-million-shipping-deal-with-cn-stock-jumps","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1153439","title":{"rendered":"Teck signs $125 million shipping deal with CN, stock jumps"},"content":{"rendered":"<p>Teck Resources (TSX, NYSE: TECK) announced Wednesday that the company has signed a <a aria-label=\"long-term rail agreement (opens in a new tab)\" href=\"https:\/\/www.teck.com\/news\/news-releases\/2019\/teck-and-cn-announce-significant-rail-shipping-agreement\"  rel=\"noreferrer noopener\">long-term rail agreement<\/a> with CN (TSX: CNR) (NYSE: CNI) for the shipping of steelmaking coal from Teck\u2019s four BC operations between Kamloops and Neptune Terminals, as well as other west coast ports.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>Following completion of the terminal expansion project, Neptune&#8217;s capacity is expected to rise to 30 million tonnes<\/p>\n<\/blockquote>\n<\/figure>\n<p>Under the agreement, which runs from April 2021 to December 2026, CN will invest more than C$125 million to enhance rail infrastructure at&nbsp;Neptune Terminals. The deal would enable Teck to significantly increase shipment volumes from its Kamloops operations to an expanded Neptune Terminals.<\/p>\n<p>Teck CEO Don Lindsay said that the agreement and associated infrastructure investment would provide the company with the rail capacity to match the major upgrades currently underway at Neptune. \u201cWe expect this will lower our total transportation costs and improve overall rail and terminal performance,\u201d he added. <\/p>\n<p>\u201cCN is proud to sign this agreement with Teck and to be playing such a significant role in moving the steelmaking coal from Kamloops to the last mile at Neptune Terminals on Vancouver\u2019s north shore,\u201d said CN president and CEO JJ Ruest.<\/p>\n<p>\u201cThis significant volume commitment from Teck is further proof of CN\u2019s ability to serve our customers into Canada\u2019s trade gateway on the west coast. This agreement also further enhances CN\u2019s role as a supply chain enabler for Teck\u2019s shipments into Neptune Terminals.\u201d<\/p>\n<p>Neptune Terminals has the capacity to handle more than 24 million tonnes of bulk products a year. Following completion of the terminal expansion project, its capacity is expected to rise to 30 million tonnes.<\/p>\n<p>Shares of Teck Resources rose just over 5% on Wednesday afternoon. The Vancouver-based miner has an C$11.6 billion market capitalization.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The five-year deal would result in significantly increased shipping volumes of steelmaking coal from the Kamloops operations to Neptune Terminal.<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[2849,949,369],"tags":[],"class_list":["post-1153439","post","type-post","status-publish","format-standard","hentry","category-intelligence","category-markets","category-miningcom"],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1153439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/88"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1153439"}],"version-history":[{"count":5,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1153439\/revisions"}],"predecessor-version":[{"id":1153483,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1153439\/revisions\/1153483"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1153439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1153439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1153439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}