Stock Markets
Miners Rio Tinto, Teck take steps to minimize Canada rail shutdown impact

By Divya Rajagopal and Mrinalika Roy
TORONTO (Reuters) -Rio Tinto and Teck Resources (NYSE:) said on Thursday the labor dispute between Canada’s two biggest railway companies and their workers would likely disrupt their operations and the miners were taking steps to mitigate the damage.
A Rio Tinto (NYSE:) spokesperson said the company’s contingency plans to minimize the impact included trucking certain materials and products and increasing use of its own rail network.
Teck said it was looking to use alternative transportation, without specifying. A spokesperson added that the interruption of rail service is negative for its partners and customers in the critical minerals supply chain.
Canada’s top two railroads, Canadian National Railway (TSX:) and Canadian Pacific (NYSE:) Kansas City locked out more than 9,000 unionized workers on Thursday, triggering an unprecedented rail stoppage that threatens to cause billions of dollars worth of economic damage and disrupt North American supply chains.
Rio Tinto’s Canadian operations include production of iron ore, aluminum and diamonds. Canadian operations contributed $800 million to the company’s total revenue of $26.8 billion in the first half of 2024.
The lockout will be mostly felt in the iron ore and aluminum businesses, Rio Tinto said. It owns around 100 kilometres (62 miles) of railway for its aluminum operations and 400 kilometres of rail network for iron ore.
Teck’s Canadian operations include and molybdenum production at its Highland Valley, British Columbia mine, as well as zinc and lead smelting and refining at Trail, British Columbia.
Stock Markets
Deutsche Bank outlines two paths for ECB interest rates
Stock Markets
CPKC President and CEO Keith Creel to address 2025 Wolfe Research Global Transportation & Industrials Conference
Stock Markets
Fed leaves rates unchanged amid tariff-induced uncertainty
- Forex3 years ago
Forex Today: the dollar is gaining strength amid gloomy sentiment at the start of the Fed’s week
- Forex2 years ago
Unbiased review of Pocket Option broker
- Forex3 years ago
How is the Australian dollar doing today?
- Forex3 years ago
Dollar to pound sterling exchange rate today: Pound plummeted to its lowest since 1985
- Cryptocurrency3 years ago
What happened in the crypto market – current events today
- World3 years ago
Why are modern video games an art form?
- Commodities3 years ago
Copper continues to fall in price on expectations of lower demand in China
- Economy3 years ago
Crude oil tankers double in price due to EU anti-Russian sanctions