Ridley Terminals and Hillsborough Resources announce new long term Terminal agreement
Prince Rupert, British Columbia; Ridley Terminals Inc. (RTI) and Hillsborough Resources Limited ( Hillsborough), a Canadian coal producer, announced today that they have concluded a long term terminal services agreement that will establish a new relationship between the two parties until 31 December, 2021 with an optional 2 year extension.
This long term agreement will help facilitate the shipping needs of Hillsborough as it looks to further expand its production, and assist RTI in continuing with its current capacity growth program. This news bodes well for socio-economic development in British Columbia in general and specifically for the people and communities in Northeast British Columbia.
George Dorsey, RTI President, said, “Hillsborough will be a part of the expansion of Ridley, as they look to further develop mining interests in BC. We look forward to handling the company’s coal exports.”
Ridley Terminals is a federal Crown Corporation that operates a marine commodity terminal at Prince Rupert, BC which currently handles commodities originating in western North America.
Bud Smith, RTI Chair, said, “This agreement means communities in Northeast BC, which support the coal mining industry, can plan a future knowing Hillsborough has the terminal capacity it will need.”
Hillsborough Resources Limited, is a coal company located in Vancouver, British Columbia. It produces coal at its Quinsam Mine on Vancouver Island, British Columbia and holds coal reserves in Northeast BC and Tennessee. Hillsborough is part of the Vitol Group of Companies. Further details on Vitol are available at www.vitol.com