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Teck Resources beats quarterly profit on higher copper prices, output
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Teck Resources beats quarterly profit on higher copper prices, output
Mar 11, 2026 4:43 AM

Feb 19 (Reuters) - Teck Resources ( TECK ) beat

fourth-quarter profit expectations on Thursday, helped by a

surge in copper prices and production, as the Canadian miner

advanced its proposed merger with ​Anglo American.

The beat underscores Teck's growing ‌leverage to copper, a

metal central to electrification and energy transition demand,

while the company ⁠works to complete a merger that would create

one of ⁠the world's largest copper producers.

Teck and Anglo ‌shareholders voted ‌in favour of the merger in

December, paving the way for the creation ​of a copper

heavyweight and leaving ‌regulatory approvals as the final

hurdle.

Teck and Anglo first announced plans in September in a $53

billion all-stock, nil-premium ​merger that would create ​the

world's fifth-largest ‌copper producer.

Both companies have undergone significant restructuring in

recent years, driven in part by previous takeover attempts.

Teck said realized ⁠copper prices rose 22.5% in the

fourth-quarter to $5.11 per ⁠pound, while production rose nearly

10% to 134,000 tons.

"Copper production increased compared to the same period

last year supported by higher throughput and grades at Highland

Valley Copper, higher grades at ⁠Antamina, ‌and higher throughput

at Carmen de Andacollo," the ‌company said in a statement.

Production at the Quebrada Blanca (QB) ⁠mine in Chile

improved as the company advanced development of its tailings

management facility.

Copper output at QB was 55,400 tons in the fourth quarter,

lower than the previous year, but the strongest quarterly

performance of 2025.

The miner reported adjusted earnings of C$1.37 per share for

the quarter ​ended December 31, above analysts' average estimate

of 91 Canadian cents, according to data compiled by LSEG.

Teck maintained its 2026 ​copper output outlook at ‌455,000 -

530,000 tons.

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