Teck profit boosted by coal, copper prices

Teck Resources' second-quarter adjusted net earnings rose 91% compared with a year earlier, after higher coal and copper prices offset lower coal sales, higher costs and a strong Canadian dollar. Adjusted profit for the second quarter was...

Mining companies pressed to boost production amid record prices, rising demand

The Canadian mining sector in the first quarter of 2011 looks and feels starkly different compared with the industry that rang in the New Year just two years earlier

Teck Q4 adjusted profit up 76%

Teck Resources increased its fourth-quarter adjusted earnings by 76%, to C$548-million, last year, helped by higher commodity prices and increased copper and coal output. Quarterly revenue rose 27%, to a record C$2,8-billion, the group said....

Teck adj earnings up 39%

Vancouver-based Teck Resources posted third-quarter adjusted earnings of C$467-million, an increase of 39% compared with a year earlier, thanks to higher coal and base metals prices, partly offset by a weaker US dollar. The adjusted earnings...

Teck Coal Mountain workers agree new contract

Teck Resources will resume production at its Coal Mountain operation in south-eastern British Columbia on Wednesday, after striking employees ratified a new five-year agreement. Output was suspended after the United Mineworkers of America began a...

Teck offers $700m of debt to fund $1bn notes repurchase

Vancouver-based Teck Resources has offered to buy up to $1-billion of its outstanding 10,75% senior secured notes due 2019, the company said on Wednesday. To partially fund the repurchase, the miner will issue up to $700-million of senior...

Teck selling $750m of notes, repurchasing others

Canadian diversified miner Teck Resources has launched an offering of up to $750-million senior unsecured notes, the company said on Tuesday. At the same time, Vancouver-based Teck has also begun a cash offer to buy back up to $600-million of...

Teck expects 'tight' coking coal market next 2-3 yrs

Canadian diversified miner Teck Resources expects that coking coal markets will be “quite tight” over the next two to three years, and sees recent weakness in the sector as more of a temporary blip, CEO Don Lindsay indicated on Wednesday. "We...

Teck adjusted profit, revenue rise

Canadian diversified miner Teck Resources earned C$260-million in the second quarter, compared with C$570-million a year earlier, after foreign exchange gains recorded in the second quarter of 2009 were not repeated. Revenue from operations was...

Australian profits tax could be good for Teck – CEO

Canadian miner Teck Resources stands to benefit from the proposed 40% super profits tax on mining companies in Australia, CEO Don Lindsay suggested on Thursday. “There is a positive for us, if the government in Australia really does that, then...

Teck relooks at BC coal mine

Vancouver-based Teck Resources has begun a feasibility study into the potential for reopening its Quintette mine, in northeast British Columbia, the firm said on Thursday, citing “the favorable outlook for steelmaking coal demand”. The study...

Teck announces dividend

Vancouver-based Teck Resources will resume payment of dividends at an annual rate of C$0,40 a share, the company said on Thursday. Shares in the company jumped on the news, rising 3,31% on the day, to C$43,09 apiece, by 12:42 in Toronto. The...