Nickel and Copper are hitting new highs which is nice to see, I'm hoping that they can retain there new levels.

MINING REPORTER

Teck Resources Ltd. is dusting off plans to expand its coal operations and meet a sudden increase in demand, marking yet another milestone in the dramatic resurrection of Canada's largest base metals miner.


Less than six months ago, a debt-laden Teck was forced to reduce coking coal production by 20 per cent as steel makers shuttered mills in response to the global recession.


But an abrupt upswing in buying from China and other Asian customers in recent weeks now has the Vancouver company scrambling to fill orders.


"There is no question demand has picked up strongly. The issue, actually, is trying to fill that demand. We're finding it is more and more difficult to increase production," Teck chief executive officer Don Lindsay said on a conference call to discuss the company's second-quarter profit report.

Gold prices were little changed yesterday as a surge in stocks weakened the precious metal's safe-haven appeal. August gold settled at $954.80 (U.S.), up $1.50. Energy and grain futures, meanwhile, benefited from investors' increased risk appetite and moved higher.

CLOSING PRICES (SPOT)

Gold US$/troy ounce 950.30 -1.18

Silver US$/troy ounce 13.76 0.10

Copper US$/lb 2.51 0.02

Lead US$/lb 0.78 0.02

Zinc US$/lb 0.76 0.01

Aluminum US$/lb 0.80 0.02

Nickel US$/lb 7.41 0.07

Oil West Texas US$/bbl 65.86 1.42

Nat Gas Henry Hub US$ mmbtu 3.66 0.17

Nat.Gas AECO C C$/gigajoule 3.10 0.09

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