The reduced reliance means the company is less exposed to potential disruptions to imports, as has been reported to be happening with Australian shipments to China.
VANCOUVER — Teck Resources Ltd. says it is less exposed to uncertainties on Chinese coal imports after shifting more sales to India.
“Last year we sold less than three million tonnes, and actually, India became a bigger market for Teck, with our sales exceeding four million tonnes.” Canadian exporters have also faced increased scrutiny from China, which has suspended the licences of at least two major Canadian canola seed exporters to the country. China has maintained that quality control issues are the reason for the suspensions, but Canadian industry groups have pointed to political motivations.
China’s stimulus efforts will help to boost demand for steel-grade coal as part of continued global growth, Teck chief executive Don Lindsay said on the call.
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