Oct 24 (Reuters) – Canadian miner Teck Resources (TECKb.TO) said it was progressing “expeditiously” on the split of its coal and copper business after reporting a lower-than-expected quarterly profit on weak sales of steelmaking coal.
The company also trimmed its full-year production forecast for copper, steelmaking coal, and molybdenum, sending its shares down 6% in early trading.
Chief Executive Jonathan Price said supply chain disruptions like the British Columbia port strike and wildfires weighed on steelmaking coal sales and offset higher commodity prices in the third quarter.
Teck’s steelmaking coal sales were 5.2 million tonnes in the quarter, missing its forecast.
However, the company said strong demand, particularly from India and …
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