Bergbauunternehmen aus Kanada mit Unternehmenssitz in Vancouver. Das Unternehmen betreibt 13 Minen die sich in Kanada, USA, Chile und in Peru befinden. Insgesamt beschäftigt das Unternehmen 13.500 Mitarbeiter und ist an der Toronto Stock Exchange im Aktienindex S&P/TSX 60 notiert.
The damage assessment has determined that repairs to the dryer may take in the range of four to six weeks. In the interim, Elkview is producing higher moisture steelmaking coals at approximately 80% of planned production levels. In order to manage the overall moisture level of our product we are coordinating production with our other operations in the Elk Valley, and blending the higher moisture coal with dry finished coal inventory and dry coal from other operations to the extent possible. We expect lost production in the range of 200,000 tonnes of clean coal. Costs of repair to the dryer are not expected to exceed $5-10 million.
"We are pleased to reach this important milestone. The production of first oil at Fort Hills is the culmination of the hard work of thousands of people since the project was sanctioned by the Fort Hills partners in 2013. We look forward to the ramp up to full production and to the continued growth of our energy business. Fort Hills is a long-life asset that will generate significant value for our company for decades to come. Its life cycle carbon intensity is projected to be lower than approximately half of the oil refined in North America."
Fort Hills project is ramping up production following the safe startup of secondary extraction on January 27, 2018. As expected, the first of three trains from secondary extraction is now online and production on this train will continue to ramp up through the first quarter.
In 2017, we achieved record revenues of $12.0 billion and record cash flow from operations of $5.1 billion as a result of a favourable commodity price environment and our ongoing focus on cost control at all our key assets.
Adjusted profit was $700 million ($1.21 per share) in the fourth quarter compared with $930 million ($1.61 per share) in the fourth quarter of last year. Profit attributable to shareholders was $760 million ($1.32 per share) in the fourth quarter compared with $697 million ($1.21 per share) a year ago. Annual adjusted profit attributable to shareholders was $2.6 billion, or $4.45 per share, compared with $1.1 billion in 2016, or $1.91 per share. Annual profit attributable to shareholders was $2.5 billion, or $4.34 per share, compared with $1.0 billion in 2016, or $1.80 per share.
EBITDA was $1.6 billion in the fourth quarter, the same as a year ago. Adjusted EBITDA for the quarter totaled $1.5 billion compared with $1.9 billion last year. Our annual EBITDA was $5.6 billion in 2017 compared to $3.4 billion in 2016 and adjusted EBITDA was $5.7 billion compared with $3.5 billion in 2016.
Gross profit was $1.3 billion in the fourth quarter compared with $1.6 billion a year ago and before depreciation and amortization was $1.7 billion compared with $2.0 billion in the fourth quarter of 2016.
Cash flow from operations of $1.5 billion in the fourth quarter was the same as a year ago. Cash flow from operations for the year was a record $5.1 billion compared with $3.1 billion in 2016.
Our liquidity remains strong at approximately $4.8 billion, including US$3.0 billion of undrawn, committed credit facilities and $1.0 billion of cash at February 13, 2018. During the quarter, we extended the maturity date of our US$3.0 billion credit facility from July 2020 to October 2022. We expect to realize $1.2 billion in cash on closing of the sale of our two-thirds interest in the Waneta Dam, which we do not expect to close before the third quarter of 2018.
Fort Hills produced its first oil on January 27 and remains on track to reach 90% of capacity by the end of 2018. The first train is currently producing and ramping up to capacity. The two remaining secondary extraction trains are mechanically complete, are currently being insulated and expected to begin producing on schedule in the first half of 2018.
During the fourth quarter, we acquired an additional working interest in Fort Hills, increasing our interest to 20.89% from 20.0% for a cost of $121 million. Our interest has continued to increase and depending on the final project cost and funding elections we make, we expect our final ownership interest to be approximately 21.3%.
In December, we paid a dividend of $0.45 per share consisting of a supplemental dividend of $0.40 per share and our regular base quarterly dividend of $0.05 per share, which totaled approximately $260 million. In addition, taking into account our strong cash position, we also announced our intention to apply an additional $230 million to the repurchase of shares through March 31, 2018, of which 5.9 million Class B subordinate voting shares were repurchased for $175 million in the fourth quarter.
In November, for the first time, we were named as one of Canada's Top 100 Employers by Mediacorp
Senior Vice President Finance and Chief Financial Officer, Ron Millos will be presenting at the BMO Capital Markets 27th Annual Global Metals & Mining Conference on Monday, February 26, 2018 at 2:00 p.m. Eastern/11:00 a.m. Pacific time. The investor presentation will include information on company strategy, financial performance, and outlook for the company's business units.
Teck announced today that it will pay an eligible dividend of $0.05 per share on its outstanding Class A common shares and Class B subordinate voting shares on June 29, 2018, to shareholders of record at the close of business on June 15, 2018.
: Unaudited Third Quarter Results for 2018
?We continued to advance our key growth initiative and strengthen our financial position by receiving regulatory approval for our Quebrada Blanca Phase 2 project, closing the $1.2 billion Waneta Dam sale and reducing our outstanding notes by US$1 billion,? said Don Lindsay, President and CEO. ?Our operations continued to perform well, although commodity prices for all our key products declined during the third quarter, resulting in lower adjusted earnings and EBITDA compared with the second quarter of this year.?
Highlights and Significant Items
Profit attributable to shareholders was $1.3 billion ($2.23 per share) in the third quarter compared with $584 million ($1.01 per share) a year ago. Adjusted profit was $466 million ($0.81 per share) in the third quarter compared with $605 million ($1.05 per share) in the third quarter of last year. EBITDA was $2.1 billion in the third quarter compared with $1.4 billion in the third quarter of 2017. Adjusted EBITDA was $1.2 billion in the third quarter compared with $1.4 billion in the same period a year ago.
Gross profit was $1.0 billion in the third quarter compared with $1.1 billion a year ago. Gross profit before depreciation and amortization was $1.4 billion in the third quarter compared with $1.5 billion in the third quarter of 2017.
Plant performance at Fort Hills has exceeded expectations and we expect full year production to be near the high end of our guidance for 2018.
We received regulatory approval for our Quebrada Blanca Phase 2 (QB2) project in late August with a unanimous vote from Chilean authorities, a major step forward in advancing the project. Our search for an additional partner for QB2 continues to advance and our objective is ultimately to hold a 60?70% interest in the project. We are encouraged by our progress and continue to consider that a transaction may be announced in the fourth quarter of 2018.
In July, we completed the sale of our two-thirds interest in the Waneta Dam to BC Hydro for $1.2 billion cash. We recorded a pre-tax gain of $888 million, with no cash taxes payable on the transaction.
In August, we purchased US$1.0 billion principal amount of our near-term debt maturities, reducing the outstanding balance to US$3.8 billion. We recorded a CAD$26 million pre-tax charge on the transaction.
Customer sales in steelmaking coal in the third quarter were strong and would have significantly exceeded our guidance of 6.8 million tonnes. However, reduced volumes due to operating problems at Westshore Terminals once again negatively affected deliveries by approximately 250,000 tonnes and our revenues by approximately $55 million.
The Red Dog concentrate shipping season is expected to be complete in late October. We expect to ship approximately 1.05 million tonnes of zinc concentrate and 175,000 tonnes of lead concentrate, representing all of the concentrate available to be shipped from the operation.
In early October, we received regulatory approval to renew our normal course issuer bid allowing us to purchase up to 40 million of our Class B subordinate voting shares during the period starting October 10, 2018 and ending October 9, 2019.
For the ninth straight year, we have been named to the Dow Jones Sustainability World Index, indicating that our sustainability practices are in the top 10% of the 2,500 largest companies in the S&P Global Broad Market Index.
Our liquidity remains strong at over $5.7 billion inclusive of $1.8 billion in cash at October 24, 2018 and US$3.0 billion of undrawn, committed credit facilities.
Teck announced yesterday that it will pay an eligible dividend of $0.05 per share on its outstanding Class A common shares and Class B subordinate voting shares on June 28, 2019, to shareholders of record at the close of business on June 14, 2019.
will be reduced due repairs in the next approx. up to 20 weeks by approximately 25%, resulting in an estimated production loss of 20,000 ? 30,000 tonnes.
Teck reported yesterday an electrical equipment failure on August 25, 2019, at the Trail Operations zinc refinery in Trail, British Columbia, Canada. The equipment failure affected one of four rectifiers used in the zinc refinery.
There were no injuries or environmental impacts related to the failure.
VANCOUVER, British Columbia, Sept. 23, 2019 (GLOBE NEWSWIRE) Teck Resources Limited will release its third quarter 2019 earnings results on Thursday, October 24, 2019 before market open.
The company will hold an investor conference call to discuss the third quarter 2019 earnings results at 11:00 a.m. Eastern time / 8:00 a.m. Pacific time on Thursday, October 24, 2019. The conference call dial-in is 416.340.2216 or toll free 800.273.9672, no pass code required. Media are invited to attend on a listen-only basis.
A live audio webcast of the conference call, together with supporting presentation slides, will be available on Teck's website at www.teck.com.
The recording of the live audio webcast will be available from 10:00 a.m. Pacific time October 24, 2019 on Teck's website at www.teck.com.
VANCOUVER, British Columbia, Feb. 18, 2020 (GLOBE NEWSWIRE) -- Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (?Teck?) President and Chief Executive Officer, Don Lindsay will be presenting at the BMO Capital Markets 29th Annual Global Metals & Mining conference on Monday, February 24, 2020 at 11:30 a.m. Eastern/8:30 a.m. Pacific time. The investor presentation will include information on company strategy, financial performance, and outlook for the company?s business units.