Teck earnings and Red DogVANCOUVER, Oct. 30, 2006 (Canada NewsWire via COMTEX News Network) --
Oct 30
Don Lindsay, President and CEO said, "Third quarter earnings were $504 million, up from $405 million a year ago. We did ship all of our Red Dog concentrates during the 2006 shipping season, however poor weather conditions delayed the loading of vessels and the timing of shipments resulting in the shifting of some of Red Dog's sales from the third quarter into the fourth quarter of this year and the first quarter of 2007. Year-to-date net earnings were $1.6 billion, almost double the net earnings of $835 million in the first nine months of 2005."
What are the implications of the Red Dog delay for LME zinc inventories later this year and in early 07? Significant?