COVID-19 forces Teck Resources to slash guidance

Teck Resources said that all its mines across Canada, Peru, Chile and the US are operating. However the company cautioned that COVID-19 has negatively impacted on prices, demand for its products and that its production for the year would be significantly lower. Teck has reinstated its previously suspended 2020 guidance, but with lower ranges. Its coking coal guidance for the year is between 11 million-12 million tonnes, compared with the the initial forecast of 23 million-25 million tonnes.

Source: Mining Weekly