Proactive investorsLogo Proactive Investors UK Website

Search field
Additional information
Additional Information
Market: TSX
Sector: General Mining
Epic: TSX:TCK
News: Latest news
Web Site: Teck Resources
Other Articles: 09-02-201005-01-201030-09-2009

RSS - Subscribe to the News Today on Proactive UK ▼

Wednesday March 17, 07:07smartFOCUS’ shift to Software as a Service pays dividends

By moving to SaaS, the small cap software company has been able to boost its recurring revenue stream, improve visibility, while also cutting the sales cycle

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive AU ▼

Tuesday March 16, 11:50Gulf Resources: a burgeoning industrial minerals force in Africa

A new force in industrial minerals is taking shape in Africa, following on from Gulf's acquisition of world class vermiculite assets from Rio Tinto International in 2009.  

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive CN ▼

Monday March 15, 09:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

FULL ARTICLE ►
Teck Resources

Teck Resources

Teck Resources (formerly Teck Cominco) is Canada’s largest diversified mining, mineral processing and metallurgical company. The company produces significant quantities of copper, metallurgical coal and zinc, and is a significant producer of gold, molybdenum and specialty metals, with interests in several oil sands development assets.

The Company owns, or has interests in, 16 operating mines in Canada, the USA, Chile and Peru, as well as one metallurgical complex in Canada. The Company is actively exploring in over 15 countries throughout the Americas, Asia Pacific, Europe and Africa.

Tuesday, April 21, 2009

Teck Cominco first quarter revenues climb 11% to C$1.7 billion

company news image

Teck Cominco (TSX: TCK.A, NYSE: TCK) reported net earnings of CDN$241 million, or CDN$0.50 per share for the first quarter of 2009. Earnings before non-recurring items and positive pricing adjustments was $227 million while operating profit, before depreciation and pricing adjustments, was $765 million. At the end of the quarter (31 March 2009) the mid-tier mining group had $1.6 billion in cash.

Don Lindsay, President and CEO of Teck Cominco said that conditions improved “somewhat” for the company in the first quarter, but that it was still operating in challenging times.  "Our operations performed well, with all of our major sites generating positive cash flow from operations in the quarter. We are also making progress with our debt reduction plan and our non-core asset sales,” he added.

Revenues for the first quarter rose 11% to $1.7 billion while operating profits climbed 29% to $765 million.

Looking ahead, Teck Cominco noted that it was still finding it difficult to forecast sales volumes, but said it was expecting to sell between 18 and 20 million tonnes of coal this year, of which 90% would be hard coking coal.  To date Teck has completed price negotiations for 11 million tonnes of coal in 2009, with the highest quality coal fetching US$128/tonne.

Teck Cominco also commented on its current debt pile, which has been a major concern for the investment community. The company said that it was continuing its plan to divest of certain assets to help pay down its debt pile.

AddThis Feed Button
Register here to be notified of future Teck Resources articles.

Other Teck Resources articles


Other Teck Resources news

More news ►

Investors interested in Teck Resources recently viewed


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.