Teck Resources Limited

12:30 PM EST - Teck Resources Limited : Provided an update on Q1 2020 operations. Following a difficult start to the year, results in our Steelmaking Coal Business Unit improved significantly in late February and March. First quarter steelmaking coal sales are estimated at 5.6 million tonnes, exceeding our guidance of 4.8 to 5.2 million tonnes. At the same time, based on preliminary results we expect to report adjusted site cost of sales of approximately $65 per tonne, well below previous expectations. Finished coal inventories at our mine sites were reduced during the quarter, supporting sales and increasing operational flexibility. In spite of a difficult start to the year, our steelmaking coal logistics supply chain performed well for the remainder of the quarter, with both CP and CN recovering from early weather-related disruptions and blockades. All three ports also performed well, in particular Westshore Terminals, which had a strong March. Teck Resources Limited shares T.TECK.B are trading down $0.42 at $10.25.

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