Teck Resources: Copper sales up 11% YoY in Q1, zinc concentrates sales up 10% YoY

Published: Apr 25, 2025 09:31

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On Thursday, April 24, Canadian miner Teck Resources released its Q1 performance report, showing an increase in copper sales YoY, while maintaining its 2025 forecast unchanged. The report indicated that Q1 copper sales reached 106,200 mt, up 11% YoY, reflecting higher sales from Highland Valley Copper and Carmen de Andacollo. Q1 zinc concentrate sales were 108,400 mt, up 10% YoY, supported by the timing of sales from Red Dog and increased sales from Antamina. Red Dog's zinc concentrate sales in Q1 were 90,800 mt, exceeding the previously announced guidance range of 75,000-90,000 mt. Q1 copper production was 106,100 mt, an increase of 7,100 mt YoY, with stable performance from existing operations. Production at the Carmen de Andacollo and Highland Valley Copper mines was higher than the same period last year. QB produced 42,300 mt of copper, with production impacted by ongoing shutdowns in January, a nationwide power outage in Chile, and challenging weather conditions. Q1 zinc concentrate production was 137,300 mt, down 14% YoY, as a decline in production at the Red Dog mine partially offset an increase in production at the Antamina mine. The reduction in production at the Red Dog mine was due to lower ore grade and recovery rates, as expected. Teck Resources maintained its previously announced production guidance, with copper production guidance remaining at 490,000-565,000 mt.

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