Canada's dominant oil sands player, however, plans to spend about $900 million more next year.
Teck Resources Mining News
Teck Resources to axe 1,000 jobs, lowers dividend
With the announced cuts the diversified miner brings the total redundancies over the past 18 months to about 2,000.
Weak metal prices to hit miners through 2016 — Moody’s
The situation, says the ratings agency, won’t change over the next 12 to 18 months, and metal prices may fall even further.
Teck Resources swings to loss after $1.7 billion charge
Earnings, however, beat analysts’ estimates as Canada’s largest diversified miner cut costs to deal with weak commodity prices.
Osisko acquires Canadian precious metal royalty portfolio from Teck
The company has entered into an agreement to acquire a portfolio held by Teck for C$28 million, with an additional C$2.5 million paid on confirmation of certain rights.
Copper leads fall in metal prices on China worries
So far, copper prices have failed to react significantly to news of supply disruptions, remaining more responsive to news from China, the world’s largest consumer.
Suncor tightens grip on Fort Hills oil sands project
The project is expected to boost output in northern Alberta by 180,000 barrels a day, with production set to begin by the fourth quarter of 2017.
Goldcorp, Teck combine projects, create new $3.5 billion mine in Chile
The miners expect significant savings and environmental advantages by combining the two neighbouring projects, which are only 40 kilometres apart.
Coal slump hits Teck’s profit, output forecast
The Vancouver-based miner profit fell 21% in the quarter, making it adjust its 2015 coal production forecast to 25-26 million tonnes from 26.5-27.5 million tonnes.
BHP tipped as favourite in race for Barrick’s Zaldivar mine in Chile
BHP already operates the world’s largest copper mine, Escondida, which sits, quite literally, across the road from Zaldivar.
Chile may revoke Teck’s copper mine permit over environmental breaches
Teck is facing sanctions over infractions that include openings in the deposit where the ore is stored and a failure to build sufficient water infrastructure.
Teck reacts to depressed coal prices by halting production at Canadian mines
The company says each of its six mines will be shut down for three weeks in the third quarter.
Teck cuts dividend as coal continues downward slide
Canada’s largest diversified miner says slashing the dividend by two-thirds will allow it to keep generating positive cash flow.
UPDATE: Teck shares drop after denying merger talks
Vancouver-based company contradicts earlier Bloomberg report saying it is in talks with Chile's Antofagasta about combining copper assets.
Barrick to get $1.5 billion for Chilean copper mine
The gold miner is said to be evaluating whether to put its Zaldivar copper mine on the block as it tries to meet an ambitious debt reduction target.
Freeport, Glencore lead stocks bloodbath driven by copper collapse
Copper tumbled Wednesday to fresh six-year lows, dipping below $5,500 a tonne. Stocks in miners of the industrial metal are getting hammered.
Miners back to work at Peru’s Antamina copper mine
This was the second time that Antamina’s workers down tools in about a month over demands for a bonus and other benefits.
New strike hits Peru's largest copper mine
Unionized workers at Antamina downed tools at midnight Wednesday.
Copper hits 4-year low in New York
End of strike at Peru’s biggest copper mine and weaker oil prices drove Dr. Copper goes to the ICU.
Strike at Peru's top copper mine not hurting output: firm
But unionized workers insist on claiming that Antamina's output would likely drop by at least 90%.
Teck Resources' profit hit by lower coal prices
The price drop overshadowed the miner’s coal sales increase during the quarter, which totalled 6.8 million tonnes, compared with 6.3 million tonnes a year earlier.
Fort Hills a 'sweet spot' for Teck
Teck, which owns 20% of the project, claims it is “one of the best undeveloped oil sands mining assets in the region.”
Teck invests further in Halifax’s Erdene to expand copper exploration in Mongolia
Erdene Resource owns the Altan Nar gold-polymetallic project, located in southwest Mongolia, 200 kilometres from the border with China.
Teck to axe 600 jobs, postpones Quintette coal mine restart
Weak commodity prices hurt Teck's three core business units —coal, copper and zinc— but coal was particularly hard hit due to increased supply from Australia, the company said.
Teck Resources outlook cut on lower met coal prices
Downward trending metallurgical coal prices has prompted Dundee Capital Markets to lower its 2014 and 2015 forecasts for the commodity, leading to a price target cut on Teck Resources.
