Teck Resources (NYSE:TECK) and Canadian Pacific Kansas City (NYSE:CP) said Thursday they signed a long-term rail agreement to transport steelmaking coal from Teck’s operations in British Columbia.
In support of building green transportation, Teck (TECK) and CPKC (CP) said they plan to collaboratively develop a unique pilot program that integrates the use of CPKC’s hydrogen locomotives into Teck’s steelmaking coal supply chain, as well as provisions to invest in infrastructure and technology that aims to strengthen the Canadian supply chain.
“The agreement complements our Neptune Terminals investment and other secured port capacity to support the efficient movement of our high-quality Canadian steelmaking coal to our global customers,” Teck (TECK) CEO Jonathan Price said.
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