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Coal|Financial|Mining|Resources|supply-chain
Coal|Financial|Mining|Resources|supply-chain
coal|financial|mining|resources|supply chain

Teck third-quarter coal sales fall below guidance

16th October 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Diversified miner Teck Resources says its third-quarter steelmaking coal sales were below its guidance, citing a slower-than-anticipated supply chain recovery following the impacts of the British Columbia wildfires and port disruptions, as well as plant challenges.

The TSX- and NYSE-listed mining firm reported coal sales of 5.2-million tonnes during the September quarter, compared with its guidance of 5.6-million to 6-million tonnes.

“We implemented a plant improvement initiative in the second and third quarters and are seeing improved plant performance in the fourth quarter,” Teck stated.

The company said it should report a positive steelmaking coal provisional pricing adjustment of C$23-million in the third quarter. The realised steelmaking coal price in the third quarter averaged $22/t.

The firm, which is weighing potential deals for its steelmaking coal unit, is set to report its financial results on October 24.

Edited by Creamer Media Reporter

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