VANCOUVER, Feb. 7 /PRNewswire/ - Western Coal Corp. (TSX: WTN, WTN.WT and AIM: WTN) (the "Company" or "Western") announces that it has signed an amended terminal services agreement (the "Agreement") with Ridley Terminals Inc.
Amendments engendered by the Agreement will further support Western's growth plans to expand production levels in its Canadian operations. The majority of Western's high quality metallurgical coal from Canada is exported to meet growing demand from steel makers in the Asia-Pacific basin.
"Western Coal's engine room of growth is in northeast British Columbia, where we continue to fuel regional economic activity through expansion of our operations including the recently reopened Willow Creek mine," Keith Calder, President and CEO of Western comments. "The amended Agreement provides the stability that underpins Western's growth plans for further investments and job creation as we expand our production to over 6 million tonnes in the next two years. We look forward to the continuation of our strong working relationship we have with Ridley and the provincial and federal governments as we all work together to grow Ridley in support of B.C.'s economy."
Ridley President George Dorsey said, "Western Coal continues to be Ridley Terminal's highest volume customer, and this amended long term agreement is significant support for Ridley's expansion plans".
About Western Coal
Western Coal is a producer of high quality metallurgical coal from three mines in northeast British Columbia (Canada), high quality metallurgical coal and compliant thermal coal from four mines located in West Virginia (USA), and high quality anthracite and metallurgical coal in South Wales (UK). The Company is headquartered in Vancouver, BC, Canada, and trades on the AIM and TSX stock exchanges under the symbol "WTN". More information can be found at www.westerncoal.com
About Ridley Terminals
Ridley Terminals, a Canadian Crown Corporation, is a coal and bulk commodity marine terminal located near Prince Rupert, British Columbia, Canada. Ridley Terminals affords reduced sailing time to Asia - by more than a day from Vancouver and nearly three days from Long Beach, California - and can handle panama and capsize vessels. More information can be found at www.rti.ca
This release may contain forward-looking statements that may involve risks and uncertainties. Such statements relate to the Company's expectations, intentions, plans and beliefs. As a result, actual future events or results could differ materially from those suggested by the forward-looking statements. Readers are referred to the documents filed by the Company on SEDAR. Such risk factors include, but are not limited to changes in commodity prices; strengths of various economies; the effects of competition and pricing pressures; the oversupply of, or lack of demand for, the Company's products; currency and interest rate fluctuations; various events which could disrupt the Company's construction schedule or operations; the Company's ability to obtain additional funding on favourable terms, if at all; and the Company's ability to anticipate and manage the foregoing factors and risks. Additionally, statements related to the quantity or magnitude of coal deposits are deemed to be forward-looking statements. The reliability of such information is affected by, among other things, uncertainties involving geology of coal deposits; uncertainties of estimates of their size or composition; uncertainties of projections related to costs of production; the possibilities in delays in mining activities; changes in plans with respect to exploration, development projects or capital expenditures; and various other risks including those related to health, safety and environmental matters.
SOURCE Western Coal Corp.