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February 8, 2013
07:37 EDTTCKTeck Resources weakness overdone, says RBC Capital
After Teck reported higher than expected Q4 EPS but said its 2013 production would be below its year-end capacity, RBC Capital thinks the company is well-positioned to exploit any rebound in coal demand. The firm maintains a $40 price target and Outperform rating.
News For TCK From The Last 14 Days
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December 1, 2015
08:28 EDTTCKScotiabank to hold a conference
Scotiabank Mining Conference is being held in Toronto, Canada on December 1-2.
08:14 EDTTCKGoldman to hold a conference
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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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