Overview
- Teck reported Adjusted EBITDA of CAD 2.3 billion and profit attributable to shareholders of CAD 1.6 billion, driven largely by copper averaging about US$6.40 per pound in the quarter.
- Copper production rose to 115,700 tonnes for the quarter, an 11% increase year‑over‑year, although Quebrada Blanca output was constrained by severe weather and produced 47,200 tonnes.
- Trail Operations recorded a CAD 888 million pre‑tax impairment reversal that materially boosted profit and contributed to operating cash flow of CAD 1.6 billion, increasing net cash by CAD 655 million.
- Teck’s liquidity strengthened to CAD 10.9 billion, including CAD 6.7 billion of cash, and the company lowered its 2026 unit‑cost guidance for copper and zinc on the back of strong by‑product prices and cost performance.
- The proposed Merger of Equals with Anglo American continues integration planning with a named future executive team, and Teck is participating in an Antamina‑led investigation after a fatality at the joint venture.