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Teck beats profit forecast on higher metals prices, Anglo merger on track
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Teck beats profit forecast on higher metals prices, Anglo merger on track
Oct 22, 2025 3:34 AM

Oct 22 (Reuters) - Teck Resources ( TECK ) beat

third-quarter profit estimates on Wednesday, lifted by higher

copper and zinc prices, even as production at its Quebrada

Blanca copper mine in Chile remained constrained by tailings

work.

U.S.-listed shares of Teck rose 2% in pre-market trading.

The results come as Teck advances a merger with Anglo

American, announced in September, to form Anglo Teck, a

top-five global copper producer headquartered in Canada.

The deal aims to unlock synergies between Teck's Quebrada

Blanca mine and Anglo's nearby Collahuasi project in Chile and

deliver roughly $800 million in annual savings.

The Canadian miner reported adjusted earnings of 76 Canadian

cents per share for the quarter ended September 30, above

analysts' average estimate of 49 Canadian cents, according to

LSEG data.

Teck said third-quarter profit rose on stronger base

metals prices, higher sales from the Red Dog zinc mine in

Alaska, lower smelter processing charges and improved

performance at its Trail Operations in British Columbia.

Quarterly realized copper prices rose nearly 6% to $4.45 per

pound while zinc prices increased 3.2% to $1.29 per pound, from

last year.

However, copper production dropped 9.1% to 104,100 tonnes in

the third quarter, as output at the Quebrada Blanca mine fell

24.6% to 39,600 tonnes, constrained by ongoing work to raise the

tailings dam crest.

The company said the development of the tailings management

facility at the site remains the main constraint on production,

though improvements in sand drainage and dam construction are

underway.

Teck maintained its 2025 copper output outlook for the

Quebrada Blanca mine at 170,000-190,000 tonnes at net cash costs

of $2.65-$3.00 per pound.

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