SÃO PAULO Teck
Resources Ltd., one of the largest exporters of metallurgical
coal in the global seaborne market, doesnt plan to start
producing coal outside of Canada anytime soon.
"Tecks view at the moment
is that we have lots of resources in Canada," vice president of
coal marketing Réal Foley told delegates at the 6th
Coaltrans Brazil and South America conference. "Right now,
well concentrate on those assets."
Teck, one of the largest
producers of metallurgical coal in North America, operates six
mines in western Canada. Together, they produce about 80
percent of the countrys total metallurgical coal
Tecks proven and probable
reserves currently allow for more than 30 years of coal
production, Foley said at the conference.
The Vancouver, British
Columbia-based companys coal output rose to 24.7 million
tonnes last year from 22.8 million tonnes in 2011, and the
company is now targeting a production rate of 28 million tonnes
Teck also plans to reopen its
Quintette metallurgical coal mine in British Columbia with an
investment of Canadian $858 million ($848 million), Foley
The company expects permit
approval to be granted by the end of the first half of this
year and the first coal to be produced by the first half of
The mine is expected to produce
3.5 million tonnes per year of coal over the next 12 years, but
mine life could be extended, he added.
Tecks potential areas for
expansion in Canada include its Fording River and Elkview
mines, Foley said.
Teck also produces copper and
zinc, but more than half of its profits come from the coal
A version of this article was first
published by AMM sister publication Steel