11:42 AM EST, 01/21/2025 (MT Newswires) -- (Updates shares.)

Teck Resources (TECK-B.TO) on Tuesday reported 2024 copper production of 446,000 tonnes, up 50% from the previous year.

Fourth-quarter copper production rose by almost a fifth to 122,100 tonnes.

Teck attributed the increase to the ramp-up of the Quebrada Blanca operations, which contributed 60,700 tonnes to fourth-quarter 2024 output.

Zinc in concentrate production for the year came in at 615,900 tonnes, down 4% primarily due to a higher proportion of copper-only ore relative to copper-zinc ore at Antamina.

Refined zinc production was 256,000 tonnes, dropping 4% as a result of a localized fire in the electrolytic zinc plant at Trail, British Columbia, on September 2024.

In 2025, Teck expects to produce 490,000 to 565,000 tonnes of copper and 525,000 to 575,000 tonnes of zinc.

The company forecast sustaining capital and capitalized stripping expenditures to be between $1.0 billion and $1.2 billion in 2025. Sustaining capex is expected to be between $750 million and $845 million, of which $600 million to $670 million relates to the copper business and $150 million to $175 million relates to the zinc business.

Teck's Class B shares were last seen down $0.91 to $62.76 on the Toronto Stock Exchange.

Price: 62.77, Change: -0.90, Percent Change: -1.41