Teck Resources reports Q4 profit up and record copper production
By The Canadian Press on February 22, 2024.
VANCOUVER – Teck Resources Ltd. reported its fourth-quarter profit rose compared with a year earlier as it ramped up operations at its Quebrada Blanca mine and produced a record amount of copper. The Vancouver-based mining company says it earned a profit attributable to shareholders of $483 million or 92 cents per diluted share for the quarter ended Dec. 31, up from $266 million or 51 cents per diluted share a year earlier. On an adjusted basis, Teck says it earned $1.40 per diluted share in its latest quarter, up from an adjusted profit of $1.07 per diluted share a year earlier. Revenue totalled $4.11 billion, up from $3.14 billion in the fourth quarter of 2022. Production in the quarter totalled 103,000 tonnes of copper, up from 65,000 tonnes a year earlier, while zinc in concentrate production amounted to 182,000 tonnes, up from 143,000 a year earlier. Refined zinc production totalled 70,000 tonnes, up from 46,000. Teck’s steelmaking coal production rose to 6.4 million tonnes for the quarter, up from 4.9 million tonnes a year earlier. This report by The Canadian Press was first published Feb. 22, 2024. Companies in this story: (TSX:TECK.B) 9-8
