Teck Provides Update on Greenhills Incident
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 2, 2010) - Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) ("Teck") reported that structural engineers and representatives of the Ministry of Energy, Mines and Petroleum Resources have conducted a preliminary site assessment of the Greenhills mine's coal dryer building. The cause of the accident has not yet been determined. Although it is still expected to be several days before the damage can be fully assessed and the extent of the interruption of production at Greenhills can be estimated, initial indications are that structural damage to the dryer building is minimal.
Raw coal from the Greenhills mine is being hauled to the nearby Fording River mine for processing in Fording River's facilities. Teck is developing further plans to reduce the impact on production while repairs are conducted at Greenhills.
Teck has property and business interruption insurance that is expected to be sufficient to cover foreseeable losses from this incident, subject to a deductible.
Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, steelmaking coal, zinc and energy. Headquartered in Vancouver, Canada, its shares are listed on the Toronto Stock Exchange under the symbols TCK.A and TCK.B and the New York Stock Exchange under the symbol TCK. Further information about Teck can be found at: www.teck.com.