Fording confirms 2005 pricing
Canadian coal trust Fording announced the completion of annual price and volume negotiations with customers of the trust's Elk Valley Coal. Hard coking coal prices for the fiscal year beginning April 1, 2005, average US$125 per metric ton FOB at west coast ports. The burgeoning demand for high quality hard coking coal enabled Elk Valley to guarantee the coal sales for 2005. The trust hopes to expand Elk Valley Coal's current metallurgical coal capacity nearly 12% by the third quarter. If realized, Fording's production would increase from 25 million metric tons to 28 million metric tons. Fording trust oversees Canada's high quality metallurgical coal mine at Elk Valley. The trust is the world's second largest exporter of metallurgical coal, currently supplying nearly 25 million metric tons p.a. of high-quality coal products to international steel industries.