Teck Resources Up 1% despite Second Coal Production Shutdown
Mining giant Teck Resources Inc. (TCK-B.TO) is up more than 1% - but off a day high 36.23 struck in the early minutes of trading - amid reports it has been hit with its second coal production shutdown this summer after a strike halted operations at its Coal Mountain mine in southeastern British Columbia over the weekend.
Teck lost 25 cents on Friday.
A Globe and Mail newspaper report says Coal Mountain represents more than 10% of Teck's annual coal production forecast for 2010. It adds that as of late Sunday, no new talks were scheduled between the company and the union, represented by the United Mineworkers of America.
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