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Teck Resources Ltd
Symbol TECK
Shares Issued 492,718,066
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Globe says Teck Resources beats Q1 expectations

2025-04-25 08:54 ET - In the News

The Globe and Mail reports in its Friday edition that Teck Resources continues to struggle getting its giant QB2 copper mine in northern Chile up to "nameplate" capacity during the first quarter, but other parts of its business performed considerably better than expected. The Globe's Niall McGee writes that Teck management is pleased with sales volumes at its Red Dog zinc mine in Alaska and margins at its Trail smelter in British Columbia. At Trail, Teck refines some of the zinc that it mines at Red Dog, and it also produces the critical mineral germanium. China halted exports of germanium to the United States in December in an early ratcheting up of trade tensions between the two countries that has since escalated wildly. Teck is the only Canadian supplier to the U.S. of germanium, which is used in fibre optics, infrared night vision systems and solar panels. For now, Teck's business is well insulated from select tariffs imposed by U.S. President Donald Trump on Canada. Teck's adjusted earnings per share came in at 60 cents for the first quarter, far higher than the 34 cents per share analysts were expecting. Teck's Class B shares on Thursday closed up 3.7 per cent on the Toronto Stock Exchange, at $50.16 apiece.

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