Teck Resources postpones opening Quintette mine, cuts 600 jobs

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It’s one of several grim announcements emerging this morning from the Vancouver-based company which has also announced its profits for the first quarter of this year were less than half of what it made in the same period last year. 600 jobs are also being cut which amounts to five per cent of the company’s work force. The cuts will take place through attrition, freezes in hiring, and reductions in contractors and employees at operations and corporate offices.

Last June, the provincial government announced a partnership of six First Nations meant Quintette which has been closed since 2000 could reopen, if Teck gave the final nod.

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