Teck Provides Update on Q1 Steelmaking Coal Performance

Source Company Press Release
Company Teck Resources Limited
Tags Corporate: Guidance, Country: Canada, Segment: Power
Date April 10, 2023

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today provided its unaudited first quarter 2023 steelmaking coal sales volumes and realized prices.

“We achieved our quarterly sales guidance for steelmaking coal and continued to benefit from strong realized prices in the first quarter,” said Jonathan Price, CEO. “Teck’s high-margin steelmaking coal business continues to display its significant cash generating results and potential, further underscoring its value potential as the industry’s leading pure play steelmaking coal business post separation.” 

Our first quarter steelmaking coal sales were 6.2 million tonnes, within our previously disclosed guidance range of 6.0 – 6.4 million tonnes. The realized steelmaking coal price in the first quarter averaged US$282 per tonne. We expect to report a positive provisional pricing adjustment of $25 million in the first quarter.

Our first quarter 2023 financial results are scheduled for release on April 26, 2023.

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