Canada’s largest diversified mining company, Teck Resources, on Thursday reported lower third-quarter revenue, as global economic uncertainties have pushed down the prices of the products that it produces.
President and CEO Don Lindsay said in a news release that steelmaking coal was particularly badly affected by the global economic turmoil. The benchmark steelmaking coal price has declined from $210/t in the first quarter to $178/t in the third quarter and the current spot market price sits at $150/t.