April 22, 2014 / 9:39 AM / in 3 years

Teck defers Quintette coal restart, to cut jobs as profit drops

April 22 (Reuters) - Diversified Canadian miner Teck Resources Ltd said it would defer the reopening of its Quintette coal mine in British Columbia and cut 600 jobs, or 5 percent of its global workforce, after a 78.4 percent fall first-quarter net profit.

Teck’s profit fell to C$69 million ($62.62 million), or 12 Canadian cents per share, in the quarter ended March 31, from C$319 million, or 55 Canadian cents per share, a year earlier.

Revenue fell 10.7 percent to C$2.08 billion. ($1 = 1.1018 Canadian dollars) (Reporting by Nicole Mordant in Vancouver and Sneha Banerjee in Bangalore; Editing by Ted Kerr)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below