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December 16, 2012
21:20 EDTTCKTeck announces decision in Phase 1 of Upper Columbia River litigation
Teck Resources Limited announced that the Federal District Court for Eastern Washington has ruled in favor of the plaintiffs in Phase 1 of the Pakootas case. The court has issued a declaratory judgment that Teck Metals Ltd. is liable under CERCLA for response costs, the amount of which will be determined in the subsequent phase of the case. The subsequent hearing, with respect to claims for natural resource damages and costs, has not yet been scheduled and is expected to be deferred until the remedial investigation and feasibility study with respect to environmental conditions in the Upper Columbia River is substantially complete. That study, being undertaken by Teck American Incorporated, "TAI", pursuant to a 2006 agreement with the United States Environmental Protection Agency, is currently expected to be completed in 2015
News For TCK From The Last 14 Days
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November 18, 2015
05:28 EDTTCKTeck Resources to reduce spending by $650M, cuts 1,000 jobs
In response to persistent low commodity prices, Teck Resources is implementing additional measures to reduce costs and conserve capital: Reduction in total spending of $650M in 2016, to be achieved through $350M of capital spending reductions and deferrals and $300M of operating cost savings identified as part of the 2016 operating budget. Elimination of an additional 1,000 positions across Teck's global offices and operations, through a combination of layoffs and attrition. This will include a reduction in senior management positions and brings total labor force reductions over the past 18 months to approximately 2,000 positions. Withdrawal of the Coal Mountain Phase 2 project from the Environmental Assessment process and suspension of further work on the project. The capital reductions and deferrals described above are in comparison to preliminary 2016 capital spending plans. The 2016 capital budget is still under review and Teck will announce forecast 2016 capital spending in February 2016.

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