Canada's Teck Resources signals hit from British Columbia wildfire

(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. [https://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)

By Matt Earle

Matthew Earle is the Founder of MiningFeeds. In 2005, Matt founded MiningNerds.com to provide data and information to the mining investment community. This site was merged with Highgrade Review to form MiningFeeds. Matt has a B.Sc. degree with a minor in geology from the University of Toronto.

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