Teck Announces Response to Incident at Westshore Terminals
December 07 2012 - 2:21PM
Marketwired
Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) announced
today that it is taking steps in response to impacts to coal
shipping capacity at Westshore Terminals Limited following an
incident that resulted in Berth 1 being out of commission for an
unknown amount of time. Teck will continue to ship through Berth 2
at Westshore and will be shifting shipping capacity to Neptune
Terminals and exploring options for moving additional tonnage to
Pacific Coast Terminals and Ridley Terminals. Our preliminary
assessment is that we will meet or exceed our sales guidance of 6.2
million tonnes for the fourth quarter and, as there is inventory
space available at Westshore, we do not expect this incident to
have a material impact on coal production for the fourth
quarter.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and forward-looking information as
defined in the Securities Act (Ontario). The forward-looking
statements in this news release include statements concerning
Teck's response to the incident at Westshore Terminals, including
shifting capacity and exploring options to move capacity to other
terminals. The statements that our preliminary assessment indicates
that we expect to meet or exceed our sales guidance for Q4, the
sales guidance of 6.2 million tonnes for Q4 and our expectation
that the incident will not have a material impact on coal
production for Q4 are also forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of Teck to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Factors
that may cause actual results to vary from our statements include,
but are not limited to, unexpected difficulty or delay in shifting
capacity to Neptune Terminals, lack of available options on
reasonable terms to move capacity to other terminals and unexpected
difficulty or delay in shifting capacity to other terminals even if
options are available and further operational difficulties at the
terminals. Other factors, including those discussed in the prior
sentence, that may cause our statement that we expect to meet or
exceed sales guidance include further negative effects from the
Westshore incident coming to light or developing over the course of
time. Our Q4 sales guidance of 6.2 million tonnes is subject to a
number of other factors, including changes in conditions in the
steel market, changes in foreign exchange rates, other unplanned
and unexpected disruptions in production or transportation, changes
in general economic conditions or conditions in the markets for
steelmaking coal, and other risk factors as detailed from time to
time in Teck's reports filed with Canadian securities
administrators and the U.S. Securities and Exchange Commission.
Teck does not assume the obligation to revise or update these
forward-looking statements after the date of this document or to
revise them to reflect the occurrence of future unanticipated
events, except as may be required under applicable securities
laws.
About Teck
Teck is a diversified resource company committed to responsible
mining and mineral development with major business units focused on
copper, steelmaking coal, zinc and energy. Headquartered in
Vancouver, Canada, its shares are listed on the Toronto Stock
Exchange under the symbols TCK.A and TCK.B and the New York Stock
Exchange under the symbol TCK.
Contacts: Teck Resources Limited - Media Contact Chris Stannell
Senior Communications Specialist
604.699.4368chris.stannell@teck.com Teck Resources Limited -
Investor Contact Greg Waller VP, Investor Relations & Strategic
Analysis 604.699.4014greg.waller@teck.com www.teck.com