Canadian miner Teck Resources Ltd . on Tuesday estimated third-quarter steelmaking coal sales would be reduced by 300,000-500,000 tonnes due to a rail service disruption from the wildfires in British Columbia.
The company’s shares closed down 4.9 per cent in Toronto, while its U.S-listed stock ended 5.7 per cent lower.
Rail service between Teck’s steelmaking coal operations and west coast terminals has been disrupted due to damage to the rail line near Lytton, the company said.
A forest fire that began after three days of record-breaking temperatures has destroyed most of the small western Canadian town of Lytton.
The company, which sold 6.2 million tonnes of steelmaking coal in the first three months of the year, said second-quarter sales were unaffected as the disruption began on the last day of the period.
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