Teck waiting for next coal wave to revive Quintette
In June of this year, the B.C. government issued a mining permit to clear the way for Teck to operate an open-pit mine at Quintette, which is forecast to produce three million tonnes a year of metallurgical coal, a key ingredient in the production of steel. But with coal prices down more than 50 per cent over the past couple of years, Teck announced in July that it decided to delay capital spending of $300-million in 2013 and $350-million in the first half of 2014 that had been earmarked for Quintette.
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