Teck Provides Q1 2020 Steelmaking Coal Sales Update
February 05 2020 - 5:21PM
Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK)
announced today that steelmaking coal sales for the first quarter
of 2020 are being affected by bad weather in British Columbia
causing rail and terminal performance issues. Among other issues,
heavy snow and extreme cold in January and rock and mud slides have
affected rail lines and adjacent highways. Ongoing heavy rains have
delayed remediation work. The estimated impact on first quarter
sales is expected to be approximately 1 million tonnes, resulting
in sales in the quarter of 5.1 to 5.4 million tonnes.
High mine site clean coal inventory levels are also expected to
limit first quarter coal production if weather conditions do not
improve. Separately, the raw coal feed belt at Elkview mine
experienced a mechanical failure which is expected to prevent raw
coal processing through the plant for approximately two weeks. Teck
is implementing plans to supplement Elkview production from its
other operations during this outage.
Further guidance on coal production and sales will be provided
in Teck’s regular quarterly results news release.
Cautionary Statement on Forward-Looking
StatementsThis news release contains certain
forward-looking information and forward-looking statements as
defined in applicable securities laws (collectively referred to in
this news release as "forward-looking statements"). All statements
other than statements of historical fact are 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. These
forward-looking statements include estimates, forecasts, and
statements as to management's expectations regarding coal
production and sales in the first quarter of 2020. These
forward-looking statements are based on many assumptions, including
that rail and port performance will return to normal seasonal
levels, and that customers will meet their contractual obligations.
Many factors can cause actual results to vary materially, including
further adverse weather or geotechnical events, mechanical failures
and plant upsets, as well as changes in general market
conditions.
We assume no obligation to update forward-looking statements
except as required under securities laws. Further information
concerning risks and uncertainties associated with these
forward-looking statements and our business can be found in our
Annual Information Form for the year ended December 31, 2018, filed
under our profile on SEDAR (www.sedar.com) and on EDGAR
(www.sec.gov) under cover of Form 40-F, as well as subsequent
filings that can also be found under our profile.
About TeckTeck 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 TECK.A and
TECK.B and the New York Stock Exchange under the symbol TECK. Learn
more about Teck at www.teck.com or follow @TeckResources.
Teck Media Contact:Chris Stannell Public
Relations Manager604.699.4368chris.stannell@teck.com
Teck Investor Contact:Fraser PhillipsSenior
Vice President, Investor Relations and Strategic
Analysis604.699.4621fraser.phillips@teck.com
Teck Resources (NYSE:TECK)
Historical Stock Chart
From Apr 2024 to May 2024
Teck Resources (NYSE:TECK)
Historical Stock Chart
From May 2023 to May 2024