In Quintette, newly issued draft guidelines pertaining to caribou management have extended the permitting process. This in turn has impacted the feasibility study and the timeline for the reopening of the Quintette mine. The feasibility is now expected to be complete in Q3 of 2012. So this quarter, with the first coal expected in 2014. Also, subsequent to quarter end, we ratified a new 5-year labor agreement at Cardinal River and the next labor agreement in coal expires in May 2014 at our Line Creek operation.And finally, quarter-to-date, we have reached agreements with the portion of our coal customers to sell 5 million tonnes at an average price of USD 199 per tonne, and this includes carryover tonnage. I think it's important to keep in mind that we were further along in negotiations this time last quarter and so the quarter-over-quarter comparison to the 6.3 million tonnes we have sold, at this time in the last quarter, is not directly comparable. I'll just repeat that, that the 5 million tonnes we have in the press release so far this quarter is not an apples-to-apples comparison to the 6.3 million tonnes that we have sold at this time in the last quarter.
Teck Resources Limited Management Discusses Q2 2012 Results - Earnings Call Transcript
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