Teck Updates Steelmaking Coal Guidance
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 15, 2017) - Teck Resources Limited (TSX: TECK.A and TECK.B,
NYSE: TECK) ("Teck") today provided guidance for expected realized steelmaking coal price and an update on volumes for the second
quarter of 2017.
The second quarter 2017 price for steelmaking coal sold under quarterly contract has been established based on an average of
three assessments, which results in pricing of approximately US$190 per tonne. This index pricing mechanism will apply effective
April 1, 2017, and for future quarters.
Teck now expects its second quarter average realized coal price to be between US$160 and US$165 per tonne. The differential
between the quarterly benchmark price and our average realized price for the second quarter is larger than usual. After steel
mills filled their prompt requirements immediately following the Queensland cyclone, there were very few prime hard coking coal
spot sales during the four week period from mid-April. Steelmaking coal sales volumes for the second quarter of 2017 are expected
to be between 6.8 and 7 million tonnes. Final quarterly sales will depend on timing of shipments.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the Unites States Private Securities
Litigation Reform Act of 1995 and forward-looking information as defined in the Securities Act (Ontario). Forward-looking
statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential" or
variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would",
"might" or "will" be taken, occur or achieved. Forward-looking statements include statements regarding Teck's expectations
regarding coal production and sales volumes and pricing.
Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual
results, performance or achievements of Teck to be materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements.
Factors that may cause actual results to vary include, but are not limited to, unplanned disruptions in production or
transportation, including due to weather or natural disaster, changes in general economic conditions or conditions in the markets
for metallurgical coal, labour disruptions, changes in the price of diesel and other consumable inputs, and other risk factors as
detailed from time to time in Teck's reports filed with Canadian securities administrators and the U.S. Securities and Exchange
Commission.
Certain of these risks are described in more detail in the annual information form of Teck and in its public filings with
Canadian securities administrators and the U.S. Securities and Exchange Commission. Teck does not assume the obligation to revise
or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future
unanticipated events, except as may be required under applicable securities laws.
About Teck
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 TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck
at www.teck.com or follow @TeckResources.