ELKVIEW JV

Teck has a 95% partnership interest in Elkview. The remaining 5% is indirectly held equally by Nippon Steel & Sumitomo Metal Corporation, a Japanese steel producer, and POSCO, a Korean steel producer, each of which acquired a 2.5% interest in 2005.

Elkview produces steelmaking coal – also called metallurgical coal or coking coal — which is used to make steel. We export the processed coal by sea to the Asia-Pacific region and elsewhere. This involves the shipment of the steelmaking coal from the mine site to bulk port terminals in Vancouver by rail. It is then loaded on to larger seagoing vessels, which carry it to our target markets.

The current annual production capacities of the mine and preparation plant (on a 100% basis) is approximately 9.0 million of clean coal. Proven and probable reserves at Elkview are projected to support mining for a further 30 years.