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Canada's Teck beats fourth-quarter profit estimates on strong copper production
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Canada's Teck beats fourth-quarter profit estimates on strong copper production
Feb 20, 2025 3:15 AM

Feb 20 (Reuters) - Canadian miner Teck Resources ( TECK )

beat analysts' estimates for fourth-quarter profit on

Thursday, helped by higher copper production volumes at its

Chile mine.

Total copper output in the quarter came in at 122,100

tonnes, a 19% jump from a year earlier, with 60,700 tonnes from

its Quebrada Blanca (QB) mine in Chile.

"Our copper production in the fourth quarter set a new

quarterly production record with strong performance at Quebrada

Blanca mine" CEO Jonathan Price said in a statement.

Strong sales volumes and favourable prices of the red metal

also supported.

The company has been investing in the QB debottlenecking

project and expects it could lead to a further increase in

throughput by 10-15%.

Teck expects copper production to range between 490,000 and

565,000 tonnes in 2025.

The company reported an adjusted profit of C$0.45 ($0.3168)

per share for the quarter ended December 31, compared with

analysts' average estimate of C$0.43 per share, according to

data compiled by LSEG.

($1 = 1.4205 Canadian dollars)

(Reporting by Mrinalika Roy in Bengaluru; Editing by Sriraj

Kalluvila)

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