Teck Idling Coal Operations
CBJ – In the wake of a worldwide slump, Teck Resources plans to idle six Canadian operations in response to a slump in prices and demand.
The temporary shutdowns will take place in the third quarter in a move that will cut metallurgical coal production by about 1.5 million metric tons, or 22%, in the quarter.
“Additional coal production adjustments will be considered over the course of 2015 as market conditions continue to evolve,” Teck said in a prepared statement.
Teck Resoruces the world’s second- largest exporter of coal used in steelmaking.