By Mrinalika Roy
Feb 20 (Reuters) - Canadian miner Teck Resources ( TECK )
said on Thursday U.S. President Donald Trump's
proposed tariffs on Canadian imports will not have any material
impact on its business.
"Our copper and zinc concentrate sales would not be impacted
as we primarily sell to Asia and Europe and not into the U.S.,"
CEO Jonathan Price said on a post-earnings call.
The company does sell some products in the US - mainly
zinc and lead refined at its Trail operations in British
Columbia, as well as speciality metals such as germanium, indium
and sulfur.
While Teck produces a large proportion of these diverse
group of metals, they comprise less than 15% of the company's
revenue, Price said.
"In the event tariffs are imposed, we expect trade flows
to adjust," he added.
Teck shares were trading nearly 2% higher midday after
the miner beat analysts' estimates for fourth-quarter profit,
helped by higher copper production volumes at its Chile mine.
Total copper output in the reported 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.
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)