Teck Reports Elkview Plant Outage
September 20 2022 - 7:23PM
Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK)
(“Teck”) announced today that there has been a structural failure
of the plant feed conveyor belt at its Elkview steelmaking coal
operation in the Elk Valley of British Columbia. Initial
estimates are that production at Elkview Operations will be
interrupted for 1-2 months as repairs are implemented. Elkview
will reschedule planned plant maintenance to take advantage of
plant downtime and mine operations will focus on pre-stripping
during the outage. Assuming a two-month suspension of plant
operations, Teck expects the impact on 2022 steelmaking coal
production will be in the range of 1.5 million tonnes.
When also factoring in the impact of the recent labour action at
Westshore Terminals, Teck’s third quarter steelmaking coal sales
are now expected to be between 5.5 - 5.9 million tonnes versus our
previously announced guidance range of 5.8 - 6.2 million
tonnes.
Forward-Looking Statements This press
release contains certain forward-looking statements within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and forward-looking information as defined in the
Securities Act (Ontario). Forward-looking statements and
information can be identified by the use of words such as
“expects”, “intends”, “is expected”, “potential” or variations of
such words and phrases or statements that certain actions, events
or results “may”, “could”, “should”, “would” “might” or “will” be
taken, occur or achieved. Forward-looking statements include
statements regarding Teck’s expectations regarding coal production
and timing and cost of repairs for the Elkview dryer.
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.
Factors that may cause actual results to vary include, but are
not limited to, unforeseen technical issues, unplanned delays in
repairs, including due to weather, unavailability of labour, delays
in receiving materials and supplies, natural disaster, changes in
general economic conditions or conditions in the markets for
metallurgical coal, labour disruptions, and other risk factors as
detailed from time to time in Teck’s reports filed with Canadian
securities administrators and the U.S. Securities and Exchange
Commission.
Certain of these risks are described in more detail in the
annual information form of Teck and in its public filings with
Canadian securities administrators and the U.S. Securities and
Exchange Commission. Teck does not assume the obligation to revise
or update these forward-looking statements after the date of this
document or to revise them to reflect the occurrence of future
unanticipated events, except as may be required under applicable
securities laws.
About Teck As one of Canada’s leading mining companies,
Teck is committed to responsible mining and mineral development
with major business units focused on copper, zinc, and steelmaking
coal, as well as investments in energy assets. Copper, zinc and
high-quality steelmaking coal are required for the transition to a
low-carbon world. Headquartered in Vancouver, Canada, Teck’s 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.
Teck Media Contact Chris Stannell Public Relations
Manager 604.699.4368 chris.stannell@teck.com
Teck Investor Contact Fraser Phillips Senior Vice
President, Investor Relations and Strategic Analysis 604.699.4621
fraser.phillips@teck.com
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