July 28, 2010 / 6:45 PM / 8 years ago

UPDATE 1-Teck outlines plan to rebuild Greenhills facility

* Believes it could restart ops at site early in Q4

TORONTO, July 28 (Reuters) - Teck Resources TCKb.TO said on Wednesday that it has begun reconstruction of the coal dryer building at its Greenhills mine in British Columbia, following an explosion at the site in June. [ID:nSGE65S08G]

The Vancouver-based miner said that while reconstruction of the building and damaged equipment is under way, it continues to develop a full rebuild plan for the site.

Teck said it is unclear about the length of time required to bring the facility back to fully operational status, however it believes that it could restart early in the fourth quarter.

Teck said coal from the Greenhills mine is currently being shipped to its nearby Fording River mine for processing.

Greenhills is expected to produce about 4.3 million tonnes of coal in 2010. It is 80 percent owned by Teck, with a minority interest held by a unit of South Korean steelmaker Posco.

Teck operates six metallurgical coal mines in British Columbia and Alberta. It is one of the world’s largest exporters of coking coal — a key raw material used in the manufacture of steel.

Teck’s shares were down 1.7 percent in Toronto and New York, after the company reported second-quarter earnings late Tuesday that fell slightly short of expectations. [ID:nN27226651]

$1=$1.04 Canadian Reporting by Euan Rocha; editing by Rob Wilson

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