Fording Canadian Coal Trust

Content sourced from Wikipedia, licensed under CC BY-SA 3.0.

Fording Canadian Coal Trust was a Canadian royalty trust created in 2003. It owned a 60% stake in the Elk Valley Coal Partnership, which produced hard-coking metallurgical coal in Elk Valley, British Columbia. Through EVCP it also held 46% of Neptune Bulk Terminals in Vancouver. The trust, traded on the TSX (FDG.UN) and NYSE (FDG), had about 1,855 employees in 2008 and was worth about $11 billion. It was formed from assets of Luscar Ltd./CONSOL Energy Canada, Teck Cominco Ltd., and the former Fording Coal Ltd.

In July 2008, Teck Cominco announced it would buy all of Fording’s assets. The deal closed in October 2008 for about $14 billion, with Teck Cominco already owning 40% of EVCP. Elk Valley Coal Corporation was renamed Teck Coal Limited as part of the takeover.