Teck’s Red Dog Q2 Zinc Output Falls 18% as Mine-Life Extension PFS Advances

Teck Resources reported on July 23 that Red Dog processed 1.13 million tonnes of ore in the second quarter, at average grades of 12.3% zinc and 3.8% lead, producing 112,000 tonnes of zinc and 21,900 tonnes of lead. Zinc output declined 18% year on year from 136,600 tonnes, mainly because of lower mill feed grades. Teck expects mining at Qanaiyaq to be completed this year, while Aqqaluk is expected to supply the mill until around 2031, with zinc output set to decline as grades diminish.

Although first-half zinc production reached 218,200 tonnes, Teck expects full-year output to remain within guidance as grades continue to decline and the zinc and lead recovery circuits undergo a planned maintenance shutdown in the fourth quarter. Zinc guidance for 2026, 2027 and 2028 stands at 375,000–415,000 tonnes, 330,000–370,000 tonnes and 230,000–270,000 tonnes, respectively. The Red Dog Mine Life Extension PFS is progressing, supported by a substantially completed 12-mile access road, an awarded underground exploration-decline contract and C$200 million–C$250 million of 2026 budgeted spending.