Canada's Teck Resources, beat analyst estimates for quarterly profit on Wednesday as higher prices more than offset lower-than-expected sales volume of metallurgical coal.
The world's second-biggest exporter of steelmaking coal stuck to its annual coal production forecast of 26-million tonnes to 27-million tonnes, but said the production is now expected to be near the lower end of the range.
Vancouver-based Teck, which also produces copper, zinc and bitumen, expects third-quarter coal sales to rise to 6.8-million tonnes from 6.6-million tonnes in the reported quarter.
The second-quarter coal sales volume slightly missed the company's April 24 forecast of 6.7-million tonnes.
The company's average realized price of steelmaking coal rose 9.6% in the second quarter to $183/t.
Teck said adjusted profit rose 12.6% to C$653-million, or C$1.12 a share, in the three months to end June.
Analysts were expecting earnings of C$1.07 a share, according to Thomson Reuters I/B/E/S.
Revenue rose 6.5% to C$3.02 billion.
The company also appointed Dominic Barton as chairman as Norman Keevil retires from the role on October 1, it said in a separate statement earlier on Wednesday.