Canadian met coal producer Teck Resources announced that their met sales totaled 5.1 million tonne during Q4, just below the low end of their previously lowered guidance of 5.2-5.7 million tonne as a result of extreme cold-weather conditions, heavy rains and mudslides that caused logistic disruptions in critical transportation corridors. According to the company, the provincial state of emergency declared on November 17,2021 wasn’t officially lifted until January 18,2022. The lower than expected sales result is not all that surprising, given Teck’s previous update on December 5, 2021 when they lowered Q4 met sales guidance from 6.4-6.8 million tonne.Full year 2021 met coal production totaled 24.6 million tonne, at the low end but within guidance of24.5-25.0 million tonne. Despite the disruptions and an increase in Q4 costs, Teck’s full year 2021 cash cost and transportation costs were also within previously provided guidance ranges. Q4 met coal realized prices averaged USS 351 per tonne, up from USD 237 per tonne in Q3 2021.
Canadian met coal producer Teck Resources announced that their met sales totaled 5.1 million tonne during Q4, just below the low end of their previously lowered guidance of 5.2-5.7 million tonne as a result of extreme cold-weather conditions, heavy rains and mudslides that caused logistic disruptions in critical transportation corridors. According to the company, the provincial state of emergency declared on November 17,2021 wasn’t officially lifted until January 18,2022. The lower than expected sales result is not all that surprising, given Teck’s previous update on December 5, 2021 when they lowered Q4 met sales guidance from 6.4-6.8 million tonne.Full year 2021 met coal production totaled 24.6 million tonne, at the low end but within guidance of24.5-25.0 million tonne. Despite the disruptions and an increase in Q4 costs, Teck’s full year 2021 cash cost and transportation costs were also within previously provided guidance ranges. Q4 met coal realized prices averaged USS 351 per tonne, up from USD 237 per tonne in Q3 2021.
