TECK - Teck Resources Achieves Record Copper Production Targets To Close Glencore Deal By Q3 | Benzinga
Teck Resources Ltd (NYSE:TECK), Canada’s largest diversified miner, surpassed earnings estimates for the fourth quarter of 2023, propelled by robust steelmaking coal sales, record copper production and favorable copper prices.
"We had strong fourth quarter performance across our business, generating adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $1.7 billion in the quarter, returning cash to shareholders and advancing ramp-up of our Quebrada Blanca operations, resulting in Teck's record quarterly copper production," said President and CEO Jonathan Price, noting a positive development regarding germanium, a rare metal the firm produces in its Trail Operations facility in British Columbia.
“We have always been able to sell the production that we generate from that facility,” he said, clarifying pricing improved owing to Chinese restrictions.
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