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Healthcare

BRIEF-Teck Resources Announces Q1 2020 Update

April 1 (Reuters) - Teck Resources Ltd:

* TECK ANNOUNCES Q1 2020 UPDATE

* RESULTS IN OUR STEELMAKING COAL BUSINESS UNIT IMPROVED SIGNIFICANTLY IN LATE FEBRUARY AND MARCH

* Q1 STEELMAKING COAL SALES ARE ESTIMATED AT 5.6 MILLION TONNES, EXCEEDING OUR GUIDANCE OF 4.8 TO 5.2 MILLION TONNES

* FINISHED COAL INVENTORIES AT OUR MINE SITES WERE REDUCED DURING QUARTER, SUPPORTING SALES AND INCREASING OPERATIONAL FLEXIBILITY

* BASED ON PRELIMINARY RESULTS EXPECT TO REPORT ADJUSTED SITE COST OF SALES OF ABOUT $65/TONNE, WELL BELOW PREVIOUS EXPECTATIONS.

* STEELMAKING COAL LOGISTICS SUPPLY CHAIN PERFORMED WELL FOR REMAINDER OF QUARTER

* IMPACTS FROM COVID-19 WILL VARY BY OPERATION, BUT PRODUCTION WILL CONTINUE AT SITES ON A REDUCED BASIS

* TECK - TEMPORARY SLOWDOWN OF OPERATIONS, REDUCTION OF CREWS BY UP TO 50% OF REGULAR LEVELS AT OUR STEELMAKING COAL, HIGHLAND VALLEY COPPER OPERATIONS

* GIVEN HIGH DEGREE OF UNCERTAINTY ASSOCIATED WITH CURRENT COVID-19 SITUATION WE ARE SUSPENDING OUR 2020 GUIDANCE

* TOTAL PRODUCTION IS EXPECTED TO BE REDUCED ON AVERAGE TO APPROXIMATELY 80% TO 85% OF NORMAL LEVELS

* ALL EMPLOYEES AVAILABLE FOR WORK WILL CONTINUE TO BE PAID AS NORMAL DURING INITIAL TWO-WEEK PERIOD Source text for Eikon: Further company coverage:

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