Teck Provides Steelmaking Coal Sales and Pricing Update

Teck Resources Limited today provided unaudited third quarter 2023 steelmaking coal sales volumes and realized prices.

Their third quarter steelmaking coal sales were 5.2 million tonnes, below the guidance of 5.6 – 6.0 million tonnes due to slower than anticipated supply chain recovery following the impacts of B.C. wildfires and the labour disruption at B.C. ports, and plant challenges. They implemented a plant improvement initiative in the second and third quarter and are seeing improved plant performance in the fourth quarter.

The realized steelmaking coal price in the third quarter averaged US$229 per tonne. They expect to report a positive steelmaking coal provisional pricing adjustment of $23 million in the third quarter.

The third quarter 2023 financial results are scheduled for release on October 24, 2023.