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Teck Resources Ltd (TECKb.TO)

TECKb.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Newmont Acquires 50 Percent Stake In Galore Creek Project In British Columbia
Thursday, 26 Jul 2018 06:45am EDT 

July 26 (Reuters) - Newmont Mining Corp ::NEWMONT ACQUIRES 50 PERCENT STAKE IN GALORE CREEK PROJECT IN BRITISH COLUMBIA.NEWMONT MINING CORP - NOVAGOLD AGREEMENT ENCOMPASSES A STAGED AND CONTINGENT INVESTMENT OF $275 MILLION.NEWMONT MINING - AGREEMENTS TO BUY 50 PERCENT INTEREST IN GALORE CREEK PARTNERSHIP FROM NOVAGOLD RESOURCES, TO FORM PARTNERSHIP WITH TECK RESOURCES.NEWMONT MINING - NOVAGOLD DEAL HAS INITIAL PAYMENT OF $100 MILLION; PAYMENT OF $75 MILLION ON EARLIER OF PREFEASIBILITY STUDY COMPLETION/3 YRS FROM CLOSING.  Full Article

Teck Reports Q4 Adjusted Profit $1.21 Per Share
Wednesday, 14 Feb 2018 03:01am EST 

Feb 14 (Reuters) - Teck Resources Ltd ::TECK REPORTS UNAUDITED FOURTH QUARTER RESULTS FOR 2017.ADJUSTED PROFIT ATTRIBUTABLE TO SHAREHOLDERS OF $700 MILLION ($1.21 PER SHARE) IN THE FOURTH QUARTER‍​.PROFIT ATTRIBUTABLE TO SHAREHOLDERS WAS $760 MILLION ($1.32 PER SHARE) IN THE FOURTH QUARTER.QTRLY REVENUES C$ 3.2 BILLION VERSUS C$ 3.56 BILLION YEAR AGO.REALIZED U.S. DOLLAR STEELMAKING COAL PRICES INCREASED BY 7% FROM THE THIRD QUARTER OF 2017.TECK RESOURCES - ANNUAL PRODUCTION FROM 2019 TO 2021 IS EXPECTED TO BE HIGHER THAN 2018, DESPITE THE CLOSURE OF COAL MOUNTAIN OPERATIONS MID-2018.EXPECTING SALES VOLUMES IN THE FIRST QUARTER OF 2018 TO BE IN THE RANGE OF 6.3 TO 6.5 MILLION TONNES.PLAN TO MAKE AN EQUITY INVESTMENT OF $85 MILLION FOR PORT UPGRADES AT NEPTUNE TERMINALS IN 2018.‍STEELMAKING COAL PRODUCTION IN 2018 IS EXPECTED TO BE BETWEEN 26 AND 27 MILLION TONNES​.TOTAL DEBT AS OF DECEMBER 31, 2017 WAS $5.1 BILLION.‍QTRLY STEELMAKING COAL PRODUCTION 6.9 MILLION TONNES VERSUS 7.3 MILLION TONNES​.QTRLY STEELMAKING COAL SALES 6.4 MILLION TONNES VERSUS 6.9 MILLION TONNES.FORT HILLS PRODUCED ITS FIRST OIL ON JANUARY 27 AND REMAINS ON TRACK TO REACH 90% OF CAPACITY BY THE END OF 2018.EXPECT 2018 COPPER PRODUCTION TO BE IN THE RANGE OF 270,000 TO 285,000 TONNES, SLIGHTLY LOWER THAN 2017 PRODUCTION LEVELS‍​.Q4 AVERAGE REALIZED STEELMAKING COAL PRICE OF US$170 PER TONNE WAS US$207 PER TONNE ‍​.  Full Article

Teck Resources Says Operations Will Continue During Expected Strike
Tuesday, 12 Dec 2017 04:43pm EST 

Dec 12 (Reuters) - Teck Resources Ltd ::TECK RESOURCES - UNION OF WORKERS OF QUEBRADA BLANCA INDICATED THAT IT MAY PROCEED WITH STRIKE ACTION AS EARLY AS DEC 13.TECK RESOURCES LTD - OPERATIONS WILL CONTINUE DURING A STRIKE AND WE DO NOT ANTICIPATE AN IMPACT ON OVERALL PRODUCTION.  Full Article

Teck Updates Steelmaking Coal Guidance
Tuesday, 5 Dec 2017 12:32pm EST 

Dec 5 (Reuters) - Teck Resources Ltd ::TECK UPDATES STEELMAKING COAL GUIDANCE.TECK RESOURCES - STEELMAKING COAL SALES VOLUMES FOR Q4 REMAIN IN LINE WITH PREVIOUS GUIDANCE OF ABOUT 6.5 MILLION TONNES.TECK RESOURCES LTD - ‍ TECK EXPECTS TO REALIZE AN AVERAGE PRICE, FOR ALL TONNES SOLD IN Q4, OF APPROXIMATELY US$165 TO $170 PER TONNE​.  Full Article

Teck announces dividend and share buyback
Thursday, 16 Nov 2017 05:51pm EST 

Nov 16 (Reuters) - Teck Resources Ltd :Teck announces dividend and share buyback.Teck Resources - ‍board approved distribution of cash to shareholders through supplemental dividend of $0.40 per share.Teck Resources - ‍board also approved distribution of cash to shareholders through a share repurchase mandate equivalent to additional $0.40 per share​.Teck Resources - to apply additional $230 million to repurchase of class B subordinate voting shares through March 31, 2018.Teck says ‍normal course issuer bid program authorizes co to purchase up to 20 million class B subordinate voting shares through period ending Oct 9, 2018​.  Full Article

Teck extends maturity dates of bank credit facilities
Tuesday, 31 Oct 2017 09:11pm EDT 

Oct 31 (Reuters) - Teck Resources Ltd :Teck extends maturity dates of bank credit facilities.Says ‍maturity date of $3 billion facility has been extended from July 2020 to October 2022​.Says ‍maturity date of $1.2 billion facility has been extended from June 2019 to October 2020​.  Full Article

Teck CEO expects "very strong" Q4 benchmark coal price
Thursday, 26 Oct 2017 12:14pm EDT 

Oct 26 (Reuters) - Teck Resources :Expects "very strong" Q4 industry benchmark price for steelmaking coal - chief executive donald lindsay.Teck Resources says has contracted for 10,000 bpd of fort hills bitumen on existing Keystone pipeline to gulf coast; 12,000 bpd on proposed Trans Mountain pipeline expansion.Teck says has plans to sell remaining 25,000 bpd of Fort Hills bitumen at Hardisty, Alberta; has long-term contracts on up to 20,000 bpd.Teck says if Trans Mountain expansion is delayed or not built it can increase capacity on Keystone pipeline, sell at Hardisty or use rail.Teck CEO says "pretty strong case" for company to get back investment grade rating; rating agencies waiting for Fort Hills start, ramp up.Steelmaking coal market prices "stabilizing" after coming off peaks, helped by strong demand outside China.  Full Article

Teck Resources reports quarterly non-GAAP EPS of C$1.08 per share
Thursday, 26 Oct 2017 03:01am EDT 

Oct 26 (Reuters) - Teck Resources Ltd :Teck reports unaudited third quarter results for 2017.‍Adjusted profit was $621 million ($1.08 per share) in Q3 compared with $152 million ($0.26 per share) in Q3 of last year​.‍EBITDA was $1.4 billion in Q3 compared with $804 million in Q3 of 2016​.‍Construction progress on Fort Hills Oil Sands project has surpassed 96%​.Sets quarterly dividend of C$0.05per share.Qtrly revenues C$3.12 billion versus C$2.3 billion last year.Expect coal sales in Q4 of 2017 to be approximately 6.5 million tonnes​.Expecting to achieve total production for year in range of 27 to 27.5 million tonnes and unit cost of sales in range of $49 to $53 per tonne​.‍Original guidance for transportation costs remains unchanged at $35 to $37 per tonne​.Qtrly steelmaking coal production 6.80 millions tonnes versus 7.07 millions tonnes last year.Qtrly steelmaking coal sales 7.54 millions tonnes versus 7.23 millions tonnes last year.‍Total debt as of Sept 30 $4,905 million​.Qtrly steelmaking coal realized (US$/tonne) $159 versus $92 last year.Qtrly steelmaking coal sales volume up C$13 million.Average realized steelmaking coal price in Q3 of US$159 per tonne was US$67 per tonne higher than the third quarter of 2016.Adjusted EBITDA in the third quarter totaled $1.4 billion compared with $696 million last year.Profit attributable to shareholders $600 million, or $1.04 per share, in Q3 versus $234 million, or $0.41 per share in last year.  Full Article

JACOBS ENGINEERING SAYS SELECTED FOR A PRE-FEASIBILITY STUDY IN PERU
Tuesday, 24 Oct 2017 07:45am EDT 

Oct 24 (Reuters) - Jacobs Engineering Group Inc ::JACOBS SELECTED FOR COPPER CATHODE PRODUCTION FACILITY PRE-FEASIBILITY STUDY IN PERU.JACOBS ENGINEERING - AS PER CONTRACT, CO WILL PROVIDE CAPEX AND OPERATING EXPENDITURE ESTIMATES TO TECK AND AURUBIS FOR DETERMINING PROJECT PRE-FEASIBILITY​.JACOBS ENGINEERING - CO SELECTED BY TECK RESOURCES LIMITED AND AURUBIS AG TO PERFORM PFS FOR A PROPOSED COPPER CATHODE PRODUCTION FACILITY IN PERU​.  Full Article

Teck receives regulatory approval for share buy-back program
Thursday, 5 Oct 2017 08:30am EDT 

Oct 5 (Reuters) - Teck Resources Ltd :Teck receives regulatory approval for share buy-back program.Teck Resources - Teck may purchase up to 20 million class B shares during period starting October 10, 2017 and ending October 9, 2018​.Teck Resources Ltd - TSX has accepted Teck's notice of intention to make a normal course issuer bid to purchase its class B subordinate voting shares.  Full Article