Teck temporarily shutting Canadian operations
The coal, copper and zinc producer cites weak market conditions in its decision
VANCOUVER—Teck Resources Ltd. is temporarily shutting down each of its six Canadian steelmaking coal operations due to weak market conditions.
The company says each of the mines will be shut down for three weeks in the third quarter.
The suspensions will be staggered over the summer months and Teck says it will continue to meet all contracted and committed coal sales
The move is expected to cut third quarter production about 22 per cent or 1.5 million tonnes to 5.7 million tonnes.
Teck says annual coal production is now estimated at 25 million to 26 million tonnes.
In addition to coal, Teck is a major producer of copper and zinc.