You can use your smart phone to browse stories in the comfort of your hand. Simply browse this site on your smart phone.

    Using an RSS Reader you can access most recent stories and other feeds posted on this network.

    SNetwork Recent Stories

Teck reacts to depressed coal prices by halting production at Canadian mines – Mining.com

by ahnationtalk on May 29, 2015474 Views

May 28, 2015

Canada’s largest diversified miner Teck Resources (TSX:TCK.A, TCK.B), (NYSE: TCK) announced Thursday it will implement temporary halts at its six Canadian steelmaking coal operations for about three weeks during the third quarter of the year.

The move, said the Vancouver-based company, will allow it to align production and inventory with changing coal market conditions. The miner added it will consider additional production adjustments over the course of 2015.

The suspension will reduce third-quarter production by about 1.5 million tonnes, or 22%, to 5.7 million tonnes. Annual coal production is now estimated at 25 million tonnes to 26 million tonnes.

“Rather than push incremental tonnes into an over-supplied market, we are taking a disciplined approach to managing our mine production in line with market conditions,” Don Lindsay, President and CEO said in the statement. “We will continue to focus on reducing costs and improving efficiency to ensure our mines are cash positive throughout the cycle and well-positioned when markets improve.”

Read More: http://www.mining.com/teck-reacts-to-depressed-coal-prices-by-halting-production-at-canadian-mines/

Send To Friend Email Print Story

NationTalk Partners & Sponsors Learn More