BC coal wins Chinese Contract – The Free Press Turns 115 Years Old

BC coal wins Chinese Contract - The Free Press Turns 115 Years Old

  • Jan. 1, 2012 10:00 a.m.

Feb. 12 1982

Free Press Files

BC Coal Ltd. announced late Tuesday the signing of a 10-year sales agreement with China Steel Corporation of Taiwan to supply a total of 2.8 million tonnes of metallurgical coal from its new Greenhills mine.

Total value of the contract in 1981 dollars amounts to approximately $240-million.

This is the first contract to be signed since a new marketing group – BC Coal International LTD. – was formed in late December. It is also the first long-term sales contract the company has signed with China Steel.

(B.C. Coal is owned by British Columbia Resources Investment Corporation, which holds 67 percent share, and ten Japanese companies which own the balance.)

The agreement runs from April 1982 through March 1992 and call for initial shipments totalling 150,000 tonnes to be supplied during 1982 from the company’s existing Balmer operations in southeastern B.C.

During 1983, a total of 300,000 tonnes will be supplied – one third from BC Coal’s Balmer mine and two thirds from the new Greenhills mine. Thereafter, annual shipments totalling 300,000 tonnes will be supplied exclusively from the Greenhills mine.

Greenhills is scheduled to begin production mid 1983 and when fully operational in 1984 will produce 1.8 million tonnes of metallurgical coal, additional quantities of thermal coal and employ 650 people.

In September 1981, pohang I ron and Steel Company Limited of Korea – a joint venture partner in the project – signed a 20 year sales contract for the annual supply of 500,000 tonnes of Greenhills coal.

For more great stories that ran in The Free Press in the past 115 years http://issuu.com/thefreepress/docs/115_the_free_press/1

Just Posted

Fernie club launches sponsorship program

Give the gift of a therapy horse this Christmas

Strong demand for domestic violence services in the Elk Valley

Over 650 women sought support from the Fernie Women’s Resource Centre in 2017

City of Fernie gets curlers back on the ice

City, Fernie Curling Club to share cost of $95,000 refrigeration mats to address leaks

Fernie outdoor rink to open December 17

City approves user fees for private rental of Outdoor Community Rink

Huge snowstorm headed for Elk Valley

Mainroad issues weather event advisory with up to 25cm expected over the next 24 hours

Cannabis gift ideas for this holiday season

Put the green in happy holidays, now that cannabis is legal in Canada

B.C. man linked to human remains probe gets absolute discharge on unrelated mischief count

Curtis Sagmoen was in Vernon Law Courts Dec. 13 for a mischief trial

Supreme Court upholds Canada’s right to reargue facts in assisted-dying case

Julia Lamb and the B.C. Civil Liberties Association are spearheading a challenge of the law

B.C. company facing several charges in 2017 chicken abuse case

CFIA investigation leads to 38 charges against Elite Farm Services and Ontario-based Sofina Foods

Woman forcibly confined, sexually assaulted between Creston and Cranbrook

The suspect forced the woman into her vehicle before driving along Highway 3

‘I thought I was dead as soon as I saw the gun’

Keremeos gas station attendant tells story about man with gun coming to store

‘People talk about deep sadness:’ Scientists study climate change grief

Some call it environmental grief, some call it solastalgia — a word coined for a feeling of homesickness when home changes around you.

As protectors abandon Trump, investigation draws closer

Cohen was sentenced Wednesday to three years in prison for an array of crimes.

Senate delays start of sittings in new home, delaying start of broadcasts

The Senate and House of Commons are moving into temporary homes for the next decade as a result of long-planned and badly needed renovations to the Centre Block.

Most Read