Teck raised to investment grade by S&P

Standard & Poor's Ratings Services (S&P) has raised its long-term corporate credit rating on Teck Resources to investment grade. The company was raised to 'BBB', with a stable outlook, from 'BB+', after its financial risk profile improved...

BC regulator approves Teck sale of Waneta Dam stake

The British Columbia Utilities Commission has approved Teck Resources' sale of a one-third interest in the Waneta Dam to the British Columbia Hydro and Power Authority for C$825-million. The commission concluded that the expenditure proposed by...

NovaGold expects new Galore Creek plan soon

Vancouver-based NovaGold will publish a new mine plan for its 50%-owned Galore Creek project, in British Columbia, in the first quarter of this year, a company spokesperson said on Tuesday. The plan will include higher copper and gold prices and...

Teck could produce as much as 25Mt of coal in 2010

Vancouver-based Teck Resources expects to produce between 23,5-million and 25-million tons of coal next year, and plans to boost output further in 2011 and 2012. For 2009, the company expects to produce 20-million tons and will sell between...

Debt paydown still top priority for Teck

Vancouver-based Teck Resources may find itself sitting a lot more comfortably than was the case six months or so, but CEO Don Lindsay made it clear on Thursday that he won't be happy until the company's term loan is paid down and it once again...

Teck ramps up zinc output, settles coal pricing

Vancouver-based Teck Resources had more good news for the market on Thursday, announcing that it will return its Trail smelter, in British Columbia, to full production from September 1. The company has also settled coal contracts with most of its...

Teck closes sale of Pogo stake

Vancouver-based Teck Resources has completed the sale of its interest in the Pogo gold mine, in Alaska, for $245-million, the firm reported on Wednesday. The group, which has been selling noncore assets for cash to repay debt, announced in April...

Teck to erase more debt thanks to C$1,74bn Chinese investment

Canadian diversified miner Teck Resources has announced the latest, if somewhat unexpected, milestone on the road to improving its balance sheet by paying off bank debt, and ultimately returning the group to investment grade credit rating....

Athabasca Potash ousts CEO

The CEO of Canadian potash hopeful Athabasca Potash, Dawn Zhou, has been removed from her executive positions, and the company is currently being run by a special executive committee of directors, which will also be responsible for finding and...

Teck expects '09 coal sales will be at 'upper end' of guidance

Vancouver-based Teck Resources expects coal sales this year will be at the upper end of its previous 18-million to 20-million ton forecast, after wrapping up contract negotiations with more than 80% of its traditional customers, the group said...

Teck enters agreement to sell Waneta Dam stake

Diversified miner Teck Resources has entered into a nonbinding memorandum of understanding with BC Hydro regarding a proposed sale of a one-third interest in Teck's Waneta Dam, in southeastern British Columbia, for C$825-million. Tax pools...

Teck in talks to sell coal stake, eyes Chinese steel consolidation

Vancouver-based diversified miner Teck Resources is in “active discussions” with potential buyers, including from Asia, for a 20% stake in its coal mining assets, a senior executive said on Thursday. “The sale of this interest would be...