Teck Resources reports Q4 profit and record copper production

VANCOUVER — Teck Resources Ltd. reported a profit in its latest quarter compared with a loss a year earlier, helped by record copper production.

The Vancouver-based mining company says it earned a profit from continuing operations attributable to shareholders of $385 million or 75 cents per share for the quarter ended Dec. 31.

The result compared with a loss of $167 million or 32 cents per diluted share in the last three months of 2023.

On an adjusted basis, Teck says it earned 45 cents per diluted share from its continuing operations, up from an adjusted profit of four cents per share a year earlier.

Revenue for the quarter totalled $2.8 billion, up from $1.8 billion.

Copper production in the quarter amounted to 122,000 tonnes, up from 103,000 a year earlier, while zinc in concentrate totalled 146,000 tonnes, down from 182,000 tonnes. Refined zinc production totalled 62,000 tonnes, down from 70,000 tonnes a year earlier.

This report by The Canadian Press was first published Feb. 20, 2025.

Companies in this story: (TSX:TECK.B)

The Canadian Press