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Teck produced more than 21 million metric tons of steelmaking coal last year from four locations in western Canada. The business accounted for 35 per cent of the company’s gross profit before depreciation and amortization in 2020, according to its website.Article content Metallurgical coal is a key raw material used in steelmaking, which remains one of the most polluting industries on the planet and faces significant pressure from policymakers to clean up its act. China, the world’s largest metal producer, has indicated it will curb steelmaking in an effort to reduce carbon emissions.
Prices of metallurgical coal prices have continued to rise this year as bets on a global economic recovery fuel frenzied demand for steel. This helped Teck swing to a second-quarter net income of $260 million, compared with a $149 million net loss the same period last year.
If the economy requires that much coal maybe economic restructuring is required to improve its' efficiency.