Teck Resources has announced gross profits of over USD 5 billion in 2021 with steel-making coal accounting for almost USD 2.8 billion of that, as compared to USD 277 million of Teck’s profits in 2020. The steel-making coal price averaged USD 262 a tonne in 2021 as compared to USD 152 in 2020Despite the high prices and high profits, Teck said it could have been better: the company reported that a raft of disruptions through British Columbia between it’s steel-making coal operations in the Elk Valley, and export terminals on the coast disrupted transportation links. The company has resorted to diverting shipments to Prince Rupert instead of Vancouver, and also used rail links in the US to send empty trains into interior BC. Those bottlenecks were yet to be fully cleared, and the Elk Valley mines saw ‘minor production curtailments’ to limit buildup of coal in Q4.Production for 2022 is forecast to be in line with production from 2021, with the company providing yearly guidance of 24.5-25.5 million tonnes for the year. In 2021, the company produced 24.6 million tonnes across Line Creek, Fording River, Elkview and Greenhills operations.
Teck Resources has announced gross profits of over USD 5 billion in 2021 with steel-making coal accounting for almost USD 2.8 billion of that, as compared to USD 277 million of Teck’s profits in 2020. The steel-making coal price averaged USD 262 a tonne in 2021 as compared to USD 152 in 2020Despite the high prices and high profits, Teck said it could have been better: the company reported that a raft of disruptions through British Columbia between it’s steel-making coal operations in the Elk Valley, and export terminals on the coast disrupted transportation links. The company has resorted to diverting shipments to Prince Rupert instead of Vancouver, and also used rail links in the US to send empty trains into interior BC. Those bottlenecks were yet to be fully cleared, and the Elk Valley mines saw ‘minor production curtailments’ to limit buildup of coal in Q4.Production for 2022 is forecast to be in line with production from 2021, with the company providing yearly guidance of 24.5-25.5 million tonnes for the year. In 2021, the company produced 24.6 million tonnes across Line Creek, Fording River, Elkview and Greenhills operations.
