Teck trades lower following mine explosion

Shares in Teck Resources (TSX: TCK.A, TCK.B) (NYSE:TCK) dropped on Monday by 1.08% as reactions poured in following an explosion at its Elkview coal mine, located near Sparwood, British Columbia. What the company dubbed as “a significant pressure event at the dryer” took place Wednesday afternoon in an area where coal is dried using a[…]

Why did this slide wipe $1.3B from Teck's market value?

Vancouver-based Teck Resources, Canada’s largest diversified miner which is close to completing a major oil sands project, reported on Thursday a nearly four-fold increase in quarterly profits. The metallurgical coal business of Teck, also a major copper and zinc producer, accounted for 72% of its gross profits during the first nine months of the year. Operationally[…]

Teck Resources shares fall on weaker own coal price outlook

VANCOUVER, Oct 26 (Reuters) – Canada’s Teck Resources Ltd reported weaker-than-expected third-quarter earnings on Thursday and forecast softer prices for its coal in the fourth quarter, sending its shares tumbling more than 8 percent. Teck, the world’s second-biggest exporter of steelmaking coal, said it expects a larger proportion of its coal sales in the fourth[…]

Teck Resources to buy Toronto’s AQM for $25 million

Shares of Teck Resources Ltd. (TSX:TCK.B) were up almost 3% as of press time after the company announced November 21 it has inked a $25 million all-cash deal to purchase AQM Copper Inc. (TSX-V:AQM), a Toronto-based junior miner with a 30% indirect interest in the Zafranal copper-gold project in Peru. Teck already owns a 50%[…]

Coal rally, cost cuts help Teck Resources swing to profit

Canada’s largest diversified miner, Teck Resources (TSX:TCK.B) (NYSE:TCK) logged Thursday better-then-expected quarterly revenue thanks mainly to a sustained rally in coking coal as well as the firm’s cost-cutting measures implemented in the three months to Sept. 30 The Vancouver-based company, the best-performing Canadian stock in seven years, swung to a profit of Cdn$234 million ($174.9 million), or[…]

Coal rally puts the breaks on asset sales in sector

The unprecedented and recent rise in the price of coking coal, which is trading at more than $200 a tonne, is already discouraging acquisitions in the sector as companies that mine the steel-making commodity have suddenly become expensive, Australia-based miner Terracom (ASX:TER) said. The firm, which recently snapped up Rio Tinto’s Blair Athol coal mine in[…]