https://newsletter.en.creamermedia.com
Coal|Copper|Energy|Resources|Operations
Coal|Copper|Energy|Resources|Operations
coal|copper|energy|resources|operations

Teck Resources Q3 profit beats estimates on higher copper production

Quebrada Blanca

Quebrada Blanca

24th October 2024

By: Reuters

  

Font size: - +

Canadian miner Teck Resources beat third-quarter profit estimates on Thursday, helped by higher production of copper at its Quebrada Blanca (QB) mine.

The company reported an adjusted profit of C$0.60 ($0.4340) per share for the quarter ended Septeber 30, compared with analysts' average estimate of C$0.37 per share, according to LSEG data.

Teck revamped its operations this year by selling 77% interest in the steelmaking coal unit to Swiss miner Glencore. The deal, one of the largest in the industry, was completed in July.

The deal was part of Teck's transition into a pure-play energy transition metals company.

Teck said copper prices rose by about 11.7% from a year earlier and averaged $4.21 per pound.

The company produced 115 000 metric tons of copper in the reported quarter, an about 60% jump from a year earlier.

Teck cut its full-year copper production guidance to 420 000 to 455 000 tons, compared with the previous guidance of 435 000 to 500 000 tons.

Edited by Reuters

Comments

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.812 0.924s - 192pq - 2rq
Subscribe Now