https://www.miningweekly.com
Coal|Energy|Mining|Ports|PROJECT|Resources
Coal|Energy|Mining|Ports|PROJECT|Resources
coal|energy|mining|ports|project|resources

Teck looks to boost Chinese coal sales amid stalled Australian shipments

Teck CEO Don Lyndsay

Teck CEO Don Lyndsay

1st December 2020

By: Reuters

  

Font size: - +

TORONTO– Canada's Teck Resources looks to boost shipments of steelmaking coal to China next year, CEO Don Lindsay said on Tuesday, hoping to take advantage of unofficial curbs on Australian imports that have stranded dozens of shipments.

China has unofficially banned Australian coal imports since October amid souring relations between the two countries, and in turn, increased imports from Mongolia and Russia.

With somewhere between 75 and 80 cargoes of Australian coal waiting to discharge at Chinese ports, the restrictions have hit prices for Australian coking coal while driving prices higher for their Chinese equivalent, Lindsay said.

"So if you are a producer of non-Australian coal and you are able to free up tonnes from other customers and contractual commitments, you can do quite well by selling to China," he said at a webcast Scotiabank mining conference.

Last week, Teck said it was restructuring its sales book to target 2021 sales of coking coal to China of about 7.5-million tonnes.

The miner said fourth-quarter sales to China remained within guidance of 5.8-million tonnes to 6.2-million tonnes, with about 20% of these sales now to Chinese customers.

Separately, Lindsay reiterated that Teck would consider offloading its 21.3% stake in Suncor Energy's Fort Hills oil sands project in the Canadian province of Alberta but said there were no immediate plans to sell it.

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.127 0.17s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: