Michael Lipkewich, Teck’s senior vice-president of mining, will describe the turnaround of two of his company’s coal mines in British Columbia when he addresses a luncheon meeting of the Canadian Institute of Mining and Metallurgy in Toronto on Oct. 19.
To set the stage for his talk, entitled “Quintette and Elkview: From Bankruptcy to Competitiveness,” Lipkewich will comment on the downward trend of world metallurgical coal prices and how this condition has affected mining operations.
Quintette and Elkview (previously known as the Balmer mine) both faced serious financial crises before Teck acquired control of them. The former was placed under court protection from creditors in 1991, while the latter was put into receivership.
Both open-pit mines achieved operating cost reductions in the range of 20%-30% within six to nine months after Teck acquired control. These two British Columbia mines typify the efforts made by most producers to remain internationally competitive.
Reservations for the luncheon can be made by calling Ben Kubica at (905) 888-1164 or Gerry Tyler at (416) 441-4902.
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