Teck Resources' (TCK) Work Stoppage at Elkview Continues

Teck Resources (NYSE:TCK) was disappointed as the tentative 5-year agreement with striking workers at is Elkview operation in British Columbia was rejected by 57 percent of the workers, paving the way for negotiations having to start over concerning the facility.

The mine would have already been operational if the contract had been agreed upon.

Teck said in a statement, “Teck plans to recommence discussions with the Elkview union bargaining committee aimed at reaching a new collective agreement.”

Over 700 United Steelworkers of American workers have been without a contract since the previous one expired on October 31. The strike was launched on January 30.

Coal production at Elkview accounts for close to 20 percent of the estimated total for 2011.

Teck closed Tuesday at $53.19, falling $0.78, or 1.45 percent.