21:20:29 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Teck Resources Ltd
Symbol TECK
Shares Issued 512,316,533
Close 2023-11-20 C$ 49.91
Market Cap C$ 25,569,718,162
Recent Sedar Documents

Globe says Teck sees Alberta mull new coal project

2023-11-21 09:11 ET - In the News

The Globe and Mail reports in its Tuesday edition that the company whose application for a coal mine in Alberta was rejected two years ago is back -- with a new name, and an updated request to explore its lease in the eastern foothills of the Rocky Mountains. The Globe's Emma Graney writes that Northback Holdings, formerly Benga Mining, is a subsidiary of Australian mining giant Hancock Prospecting. It is again eyeing a potential mine at Grassy Mountain, submitting applications to the Alberta Energy Regulator (AER) for a 105-day exploratory drilling program and a request for a water diversion. Northback told The Globe in a statement that those activities would collect technical data and allow it to assess the merits of mining the metallurgical coal, which is used to make steel. Grassy Mountain is on the site of an old mine that closed about five decades ago. The new, open-pit mine that Benga proposed for the land forecast production of 93 million tonnes of metallurgical coal over a 23-year life. The application comes at a time of renewed focus on coal mining in Canada, with Teck Resources agreeing to sell its coal business to Swiss commodities trading giant Glencore PLC and two Asian steelmakers for $8.9-billion.

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