Elkview operations above Sparwood. (Scott Tibballs / The Free Press)

Elkview operations above Sparwood. (Scott Tibballs / The Free Press)

Teck releases sales update for Q3

The update comes ahead of the complete financial report for the quarter

Teck has released an update on its coal sales for the last quarter (Q3), ahead of the complete financial results due for release at the end of the month.

According to the company, sales between July-September 2022 were 5.6 million tonnes from its four steel-making coal mines in the Elk Valley.

That number, while well below sales from the previous quarter of 6.3 million tonnes, is within revised guidances of between 5.5 and 5.9 million tonnes, according to a release.

Prior to revising sales expectations, the company had expected to sell between 5.8 and 6.2 million tonnes according to its second quarter financial report.

The coal price averaged US$304 per tonne across the quarter, but was in decline, leading the company to report it expected to revise its sales numbers by $191 million for the quarter.

Towards the end of Q3, the company suffered a setback at the Elkview mine, next to Sparwood, with a plant outage reported on September 20 that would see production and sales from that mine take a hit for up to two months while repairs were carried out.

At the time, the company said that it expected overall coal production to be down by up to 1.5 million tonnes across the division due to the issue, which was reported as a a structural failure of a plant conveyor belt.

As of early October, the issue has not been resolved.

The full report on the company’s financial results for July-September 2022 will be released on October 27.

READ MORE: Teck reports plant outage at Elkview coal mine



scott.tibballs@thefreepress.ca
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