Canada’s Teck Resources reported Q3 2023 metallurgical coal sales of 5.2 million metric tons (mt), which fell below
its guidance of 5.6 – 6 million mt due to slower than anticipated supply chain recovery following the impacts of B.C. wildfires and the labor disruption at the ports in British Columbia, as well as plant challenges.
The company said it implemented a plant improvement initiative in the Q2 2023 and Q3 2023 and are expecting improved performance for Q4 2023. The realized price for Teck’s met coal in Q3 2023 averaged $229/mt. The company is expecting to report a positive met coal provisional pricing adjustment of $23 million in Q3 2023.