NEW YORK Diversified miner Teck Resources Ltd. has delayed the final stage of development for its Quintette coking coal project in northeastern British Columbia until the steelmaking coal market recovers.
The Quintette Mine, which has the capacity to produce 3 million tonnes of coking coal per year, closed in 2000 after nearly 18 years of operation.
Vancouver, British Columbia-based Teck initiated a feasibility study in 2010 into reopening Quintette, which was completed in the third quarter of 2012. "We have delayed the final stage of development for the mine and will not commence production until the steelmaking coal market recovers," Teck said.
China remains the main overseas market for Canadian and U.S. coking coal producers, but sales to Asia dwindled in 2012 and 2013, resulting in softer prices.
Metallurgical coal exports from Canada are projected to increase to 33 million tonnes in 2018 from 31 million tonnes this year, according to a report by Australias Bureau of Resources and Energy Economics.
A version of this article was first published by AMM sister publication Steel First.