(Bloomberg circulated the following story on July 21.)
WASHINGTON, D.C. — Canadian Pacific Railway Ltd., the country’s second-biggest railroad, said it filed a claim for C$14.18 million ($10.72 million) against Elk Valley Coal Partnership, the second-largest metallurgical coal-mining operation in the world.
Canadian Pacific says the coal partnership, which is owned by Teck Cominco Ltd. and other mining companies, didn’t pay the full amount of rail freight charges to ship coal from mines in southeastern British Columbia to ports in Vancouver, according to a company statement.
Canadian Pacific’s contract with the coal partnership runs through March 2007, and the dispute isn’t expected to affect the contract, the Calgary, Alberta-based Canadian Pacific said.
Vancouver-based Teck Cominco spokesman Tom Merinsky said he couldn’t comment because he hadn’t seen the claim, which was filed in an Alberta court. Canadian Pacific spokesman Len Cocolicchio declined to comment further.
Canadian Pacific shares rose 19 Canadian cents to C$33.19 in Toronto Stock Exchange composite trading today. The stock has 5.9 percent in the past year.