Teck Resources Ltd announced sweeping changes in its senior ranks on Tuesday, including the retirement of its chief operating officer.
The closure of the Grande Cache Coal mine is devastating news for the community, the town’s mayor says.
Anglo American (LON:AAL) announced Friday it lost $3 billion during the first half of 2015 and that it would cut 53,000 jobs in the coming years, as a deep rout in commodity prices continue to add strain to battered miners everywhere.
“…our credit ratings are recently put on negative outlooks by S&P and Moody’s due to the current economic environment,” said Ron Millos, Teck CFO. “Our investment grade credit ratings continue to be a priority for us.
21% drop in quarterly profit and cut its 2015 coal production forecast due to falling demand from China and increased supply from Australia.
“We hope that in five years, the infrastructure will also improve. That’s a big hope,” Jha toldReuters.
Norway’s parliamentary parties have agreed that the country’s $900 billion sovereign wealth fund should stop investing in coal companies because of their impact on climate change.
BNN commentator Andrew McCreath speaks with Don Lindsay, President & CEO, Teck Resources about falling commodity prices, the impact on his business and the industry.
Hundreds of employees at Grande Cache Coal in western Alberta are facing layoffs.
How bad was 2014 for Vancouver-based mining companies? With coal prices stumbling along at 52-week lows, even the lumps in the stocking were a stinking money-loser.