Teck reports $285/tonne met coal price average for Q1 2017

Teck Resources Ltd. (TSX: TECK.A and TECK.B, NYSE: TECK), Canada’s largest producer of metallurgical coal, announced Dec. 12 that it has settled with major customers a benchmark price for the first quarter of 2017 for its highest quality coals of US$285 per tonne.

First quarter realized prices will reflect a combination of sales at the quarterly contract price and spot sales.

Teck also announced that unionized employees at its Fording River and Elkview met coal mines in British Columbia have ratified new five-year collective agreements expiring April 30, 2021, and Oct. 31, 2020, respectively. These new deals replace agreements that expired on April 30, 2016, and Oct. 31, 2015. As a result of the new collective agreements, Teck expects to incur a one-time, after-tax charge to profit in the fourth quarter of approximately C$35 million.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.