Teck Resources Limited
TSX : TCK.A
TSX : TCK.B
NYSE : TCK

Teck Resources Limited

November 23, 2016 02:30 ET

Teck Updates Coal Guidance

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 23, 2016) - Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) ("Teck") provided an update to its coal guidance for the fourth quarter. In light of ongoing strong spot prices for steelmaking coal, Teck expects its average blended realized price for all of its steelmaking coal products in the fourth quarter of 2016 to be in the range of USD$200 to USD$205 per tonne. Teck had previously guided towards an average blended realized price for its highest quality coals and other coal grades below the USD$200 per tonne benchmark price reported for the highest quality steelmaking coal, consistent with historical blended realizations for all products. This guidance implied a blended realized price for all products of approximately USD$185. Guidance for sales volume remains unchanged at 6.5 million tonnes.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Unites States Private Securities Litigation Reform Act of 1995 and forward-looking information as defined in the Securities Act (Ontario). Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" "might" or "will" be taken, occur or achieved. Forward-looking statements include statements regarding Teck's expectations regarding coal sales volumes and pricing.

Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Teck to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

Factors that may cause actual results to vary include, but are not limited to, unplanned disruptions in production or transportation, including due to weather or natural disaster, changes in general economic conditions or conditions in the markets for metallurgical coal, problems encountered by Teck's customers in Japan, labour disruptions, changes in the price of diesel and other consumable inputs, and other risk factors as detailed from time to time in Teck's reports filed with Canadian securities administrators and the U.S. Securities and Exchange Commission.

Certain of these risks are described in more detail in the annual information form of Teck and in its public filings with Canadian securities administrators and the U.S. Securities and Exchange Commission. Teck does not assume the obligation to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events, except as may be required under applicable securities law.

About Teck

Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, steelmaking coal, zinc and energy. Headquartered in Vancouver, Canada, its shares are listed on the Toronto Stock Exchange under the symbols TCK.A and TCK.B and the New York Stock Exchange under the symbol TCK. Learn more about Teck at www.teck.com or follow @TeckResources.

Contact Information

  • Teck Resources Limited - Investor Contact:
    Greg Waller
    Vice President, Investor Relations and Strategic Analysis
    604.699.4014

    Teck Resources Limited - Media Contact:
    Chris Stannell
    Senior Communications Specialist
    604.699.4368
    chris.stannell@teck.com
    www.teck.com