VANCOUVER - Teck Resources Ltd. has reached a tentative agreement with the union representing striking workers at its Elkview coal mine, the company announced Monday.

Terms of the deal, which would end a labour dispute that began in January, were not released.

The agreement follows an earlier deal that was voted down by the members of the United Steelworkers local 9346.

The mine, near Sparwood in southeastern British Columbia, is the second-largest of Teck's six operating coal mines, with about 700 workers.

The new agreement was reached with the help of mediator Vince Ready.

Teck said a ratification vote was scheduled to be complete by Thursday. If the deal is approved, Teck said production at the mine could resume by Friday.

Teck cut its 2011 guidance for coal production last month by about one million tonnes due to a tough winter and the Elkview labour dispute.

The company said it expected coal sales in 2011 to be between 23.5 tonnes and 24.5 million tonnes, compared to previously announced guidance of 24.5 to 25.5 million tonnes.

The reduction followed an announcement earlier this month that the company would sell between 4.6 million and 4.9 million tonnes of coal compared with an average of 5.3 million tonnes in recent years.

The company said at that time that the strike had not been a significant reason for the lower sales as deliveries of Elkview coal from inventory continued.

Teck is Canada's largest diversified miner, focused on copper, steelmaking coal and zinc. It also owns an interest in a large oilsands project.

Its shares traded at $54.63, up $3.38 or nearly seven per cent, on the Toronto Stock Exchange.