Teck

Teck cashes in on Chile’s copper

For centuries, pilgrims have thronged to the Chilean mountain town of Andacollo – to worship at the historic church and to mine the dusty hills for copper. Now a new wave of pilgrims is worshipping at the altar of Andacollo – Canadians, in the form of Teck Resources Ltd., which that has spent more than US$ 440 million expanding an open-pit copper project on the edge of town.

Record revenues for Teck despite lower metals prices

Teck Resources fought against lower metals prices to post record revenues for the first quarter.

DF Ecology fights dust at Teck’s Carmen de Andacollo copper mine

DF Ecology, the Italian producer of environmentally focussed equipment, recently responded to an appeal by Chilean Carmen de Andacollo for an individually designed Dustfighter.

Teck and China's Ministry of Agriculture Sign Agreement to Promote Zinc Fertilizer

Teck Resources LimitedLimited ("Teck", TSX: TCK.A and TCK.B, NYSE: TCK) and the National Agricultural Technology Extension Service Center of the Ministry of Agriculture of China (NATESC) announced today that they have signed an agreement to demonstrate and promote zinc fertilizer use in China.

Teck Resources: a wager on metallurgical coal

Teck Resources ( TCK ) is a diversified miner with a heavy emphasis on coal, copper and zinc. It will need strong metallurgical coal prices to repeat its results.

Teck, Vale make changes at the top

Boardroom chairs are being shifted at two large diversified mining companies, Vancouver-based Teck Resources and Brazilian powerhouse Vale SA, the world's second largest miner.

Teck announced yesterday that Marcia Smith, Vice President, Corporate Affairs, will replace Doug Horswell as Senior Vice President, Sustainability and External Affairs. Horswell, staging into retirement, will work half-time in the company's Zinc and Health program.

Meanwhile, Vale announced that coming this Thursday, CEO Murilo Ferreira will submit to the Board of Directors a proposal for a new structure of the company's Executive Board. Among the changes, the most high-profile is the replacement of CFO Guilherme Cavalcanti with Tito Martins, who currently runs Vale’s base metals division.

Teck blasts out record quarterly profit but cuts guidance for copper, coal

Teck Resources (TSE:TCK.B) posted strong third-quarter earnings and rewarded shareholders with a 33% dividend increase. However, the Vancouver-based diversified mining company also lowered its 2011 guidance for copper and coking coal, its principle export commodities.

Coal sales volume was lowered to 22.2 to 23 million tonnes (from 23.5 to 24.5 million) due to weakening steel markets. Teck blamed problems at its Quebrada Blanca operation in Chile for lower than expected copper volumes; 2011 copper sales guidance was lowered to 320,000 tonnes from 330,000 to 340,000t.

The company had a record quarter, increasing its third-quarter revenues to $3.4 billion from the same period in 2010 — a 40% increase. Adjusted earnings were $742 million compared to $452 million in Q3 of last year.

Labour deal close at Highland Valley Copper Mine

The strike at Highland Valley Copper Mine in British Columbia could soon be over, local media is reporting.

Kamloops This Week reported that a late-night bargaining session between Teck Resources and United Steelworkers has resulted in a tentative collective agreement. The mine's 1100 employees voted 99.5% in favour of a strike on Wednesday.

Teck Receives Highland Valley Copper Operations Strike Notice

Teck Resources Limited ("Teck", TSX: TCK.A and TCK.B, NYSE: TCK) announced today that strike notice has been received for its Highland Valley Copper Operations from the United Steelworkers of America Local 7619. The strike notice entitles the union to begin strike action on October 2, 2011 at the earliest. Negotiations are ongoing. The current labour agreement at the mine expires on September 30, 2011.

Xstrata Copper to invest $1.5bn in two Peru mines

Xstrata Copper will invest $1.47-billion in two copper mines in Peru, with the goal of increasing production in the country by 60% in 2012, according to a company presentation obtained by Reuters last week. Mining Weekly reports:

Teck announces Fording River collective agreement and related charge to earnings

Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) announced today that employees at its Fording River operation in southeastern British Columbia have ratified a new five-year agreement, replacing an agreement which expired on April 30, 2011.

"Our discussions with the union were very productive and we are pleased to have reached a new five-year collective agreement at our Fording River operation," said Bill Fleming, Vice President, Operations and Engineering.