Canada's Ridley Terminal finds interesting new owners after long process

The Canadian federal government announced the sale of its Ridley Coal Terminal, located on Ridley Island in northwest British Columbia. Two New York based private equity firms, AMCI Group and Riverstone Holdings, offered CAN$350M for 90% of the west coast 18 Mt capacity facility with access to Pacific Ocean routes. As part of the process, the remaining 10% is granted to two local First Nations. Metallurgical and thermal coal from Canadian mines is exported through the deepest natural port in North America.