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Teck Resources Ltd
Symbol TECK
Shares Issued 496,613,814
Close 2025-03-05 C$ 59.61
Market Cap C$ 29,603,149,453
Recent Sedar Documents

Globe/wire say Teck ready to shift zinc exports to Asia

2025-03-05 09:01 ET - In the News

The Globe and Mail reports in its Wednesday edition that Teck has been developing plans to sell zinc to Asia instead of the United States to avoid tariffs from President Donald Trump's administration on Canadian imports, chief executive officer Jonathan Price said on Tuesday. A Reuters dispatch to The Globe says Teck, which sells most of its refined zinc to the U.S., has been working on a contingency plan for months, Mr. Price told the PDAC mining industry conference in Toronto. "We have been reserving warehousing capacity, looking to reserve space in ports to export the metals to Asia," Mr. Price said. "We will find buyers and prices will adjust." The additional warehousing and port spaces would be in Canada. Mr. Trump's 25-per-cent tariffs on imports from Canada as well as Mexico took effect on Tuesday, launching new trade conflicts with the United States' three biggest trading partners. Economists expect U.S. companies to bear the cost of those tariffs. Teck produces about 260,000 tonnes of refined zinc annually. That equates to less than a third of total U.S. demand in 2024 when it stood at 848,000 tonnes, or 6 per cent of the world's total. The U.S. imports 62 per cent of its zinc needs, mainly from Canada and Mexico.

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