Canada's Teck Resources signals hit from British Columbia wildfire

  • 7/6/2021
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July 6 (Reuters) - Canadian miner Teck Resources Ltd on Tuesday estimated third-quarter steel-making coal sales would be reduced by 300,000-500,000 tonnes due to a rail service disruption from the wildfires in British Columbia. The company’s shares closed down 4.9% in Toronto, while its U.S-listed stock ended 5.7% lower. Rail service between Teck’s steel-making coal operations and west coast terminals has been disrupted due to damage to the rail line near Lytton, the company said. A forest fire that began after three days of record-breaking temperatures has destroyed most of the small western Canadian town of Lytton. [reut.rs/3At77Yl ] The company, which sold 6.2 million tonnes of steel-making coal in the first three months of the year, said second-quarter sales were unaffected as the disruption began on the last day of the period. Reporting by Rithika Krishna in Bengaluru; Editing by Sriraj Kalluvila Our Standards: The Thomson Reuters Trust Principles.

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