Canada's Teck Resources signals hit from British Columbia wildfire

·1-min read
Visitors pass a sign of sponsor Teck Resources at the PDAC annual conference in Toronto

(Reuters) - Canadian miner Teck Resources Ltd on Tuesday estimated third-quarter steel-making coal sales would be reduced by 300,000-500,000 tonnes due to a rail service disruption from the wildfires in British Columbia.

The company's shares closed down 4.9% in Toronto, while its U.S-listed stock ended 5.7% lower.

Rail service between Teck's steel-making coal operations and west coast terminals has been disrupted due to damage to the rail line near Lytton, the company said.

A forest fire that began after three days of record-breaking temperatures has destroyed most of the small western Canadian town of Lytton. [https://reut.rs/3At77Yl]

The company, which sold 6.2 million tonnes of steel-making coal in the first three months of the year, said second-quarter sales were unaffected as the disruption began on the last day of the period.

(Reporting by Rithika Krishna in Bengaluru; Editing by Sriraj Kalluvila)

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