Teck Resources says winter, transportation issues expected to hamper Q1 coal sales

Teck Resources provides coal production update

VANCOUVER — Teck Resources Ltd. (TSX:TECK.B, TECK:A) says a number of issues hampered its coal business in the first quarter but it expects production and sales volumes to return to normal levels in the second quarter.

The Vancouver-based mining firm provided investors with an update Wednesday on its coal operations, saying activity largely continued at full production rates, though it dealt with lower sales volumes, winter weather and transportation issues.

Following weak sales in January and February, Teck Resources says it expects first-quarter sales of steelmaking coal will be in a range of 5.8 million to 6.0 million tonnes, depending on the timing of shipments.

The company said in February that it expected first quarter sales would be 6.0 million tonnes.

Teck Resources said it anticipates a rebound in the second quarter, with sales reaching at least 6.8 million tonnes.

The Canadian Press

Canadian Press