Teck Resources Reports Q3 Steelmaking Coal Sales Of 5.2 Mln Tonnes, Below Its Guidance

(RTTNews) - Teck Resources Limited (TECK, TECK_A.TO, TECK_B.TO) reported that its third quarter steelmaking coal sales were 5.2 million tonnes, below its guidance of 5.6 million tonnes - 6.0 million tonnes due to slower than anticipated supply chain recovery following the impacts of B.C. wildfires and the labour disruption at B.C. ports, and plant challenges.

The company noted that it implemented a plant improvement initiative in the second and third quarter and are seeing improved plant performance in the fourth quarter. The realized steelmaking coal price in the third quarter averaged US$229 per tonne.

The company expects to report a positive steelmaking coal provisional pricing adjustment of $23 million in the third quarter.

Third quarter 2023 financial results are scheduled for release on October 24, 2023.