Teck Resources lowers Q1 coal sales guidance, works to complete Elkview repairs

Teck Resources lowers Q1 coal sales guidance, works to complete Elkview repairs

VANCOUVER — Teck Resources Ltd. lowered its guidance for steelmaking coal sales for the first quarter as it worked to finish repairs to its coal drying complex in B.C. that was damaged earlier this year.

The company says steelmaking coal sales volumes for the quarter are now expected to be about six million tonnes compared with earlier guidance for 6.3 million to 6.5 million tonnes.

The coal dryer at Teck’s Elkview operations was damaged in January in what a union executive described as an explosion.

Teck says the coal dryer has been recommissioned after a “pressure event” and full commercial production is expected to resume early next week.

Production lost due to the incident was estimated to be about 200,000 tonnes of clean coal and repairs were estimated at less than $10 million, in line with earlier estimates.

Teck says coal sales continued to be hurt by logistics issues during the quarter, particularly ongoing poor performance at Westshore Terminals.

 

 

Companies in this story: (TSX:TECK.B)

The Canadian Press

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