The Financial Post reports in its Thursday edition that Teck Resources, the miner Anglo American PLC has agreed to buy, said third-quarter earnings jumped by almost a fifth as rising metal prices offset disruptions at its main copper mine in Chile. A Bloomberg dispatch to the Post says the Vancouver-based miner is set to be taken over by Anglo in a deal that will create one of the world's biggest mining companies, and will be a key supplier of copper at a time of growing demand. But Teck has faced challenges in ramping up its Quebrada Blanca mine in the Chilean Andes. Teck's adjusted core earnings rose to $1.17-billion, up from $986-million in the year-earlier, driven by higher copper and zinc prices and increased byproduct revenues. The company left output guidance for Quebrada Blanca unchanged after the most recent reduction earlier this month. Teck is restructuring the tailings facility, affecting output now in order to allow for higher volumes in the long term. Copper output at the mine fell nearly 25 per cent in the third quarter from a year earlier to 39,600 tons, and volumes in September were just 5,600 tons, affected by 20 days of downtime, Teck said.
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