Teck Resources Ltd (TECK) Q1 2020 Earnings Call Transcript

Teck Resources Ltd (TECK) Q1 2020 Earnings Call Transcript

I would now like to turn the conference call over to Fraser Phillips, Senior Vice President, Investor Relations and Strategic Analysis.. The presentation contains forward-looking statements regarding our business.. With that, I will turn the call over to Don Lindsay, our President and CEO.. While our COVID-19 response has temporarily reduced production at some of our operations, all of our managed sites are currently operating.. There has been no material impact on sales or shipments of Teck products due to COVID-19 to date.. But there is a risk that sales volumes could decline significantly in Q2 following the dramatic slowdown that we have seen in global economic activity.. Steelmaking Coal had a very strong finish to the quarter, with sales exceeding our quarterly guidance; adjusted site cost of sales coming in well below previous expectations; reduced finished coal inventories at our mine sites, and that provides greater operational flexibility; and the logistics supply chain performed very well in March, including Westshore.. We are consolidating the improvements that we implemented in 2019 under our RACE21 initiative, which is now focused on transforming the Company for the future, we continue to advance the strategically important Neptune Terminal upgrade which will secure a