Teck Provides Steelmaking Coal Sales and Pricing Update

VANCOUVER, British Columbia, April 11, 2022 (GLOBE NEWSWIRE) -- Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today provided unaudited first quarter 2022 steelmaking coal sales volumes and realized prices in light of the impacts of recent logistics disruptions in British Columbia, Canada.

The recent CP work stoppage interrupted rail service to our steelmaking coal operations in the Elk Valley in Southeastern British Columbia. As a result, our realized first quarter steelmaking coal sales were 6.0 million tonnes, slightly below the low end of our previously announced guidance of 6.1 – 6.5 million tonnes. Record steelmaking coal FOB prices resulted in an increase in our average realized steelmaking coal price in the first quarter to US$357 per tonne. The increase in steelmaking coal prices from the fourth quarter further resulted in positive pricing adjustments of approximately $88 million.

Our first quarter 2022 financial results are scheduled for release on April 27, 2022.