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Teck Resources Announces Elkview Plant Outage; Cuts Q3 Steelmaking Coal Sales Outlook

Teck Resources Limited (TECK, TECK_A.TO, TECK_B.TO) said that there has been a structural failure of the plant feed conveyor belt at its Elkview steelmaking coal operation in the Elk Valley of British Columbia. It is expected that production at Elkview Operations will be interrupted for 1-2 months as repairs are implemented.

Elkview will reschedule planned plant maintenance to take advantage of plant downtime and mine operations will focus on pre-stripping during the outage.

Teck expects the impact on 2022 steelmaking coal production will be in the range of 1.5 million tonnes, assuming a two-month suspension of plant operations.

When also factoring in the impact of the recent labour action at Westshore Terminals, Teck expects third quarter steelmaking coal sales to be between 5.5 and 5.9 million tonnes versus previously announced guidance range of 5.8 and 6.2 million tonnes.

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