Teck 2025 Zinc Concentrate and Refined Zinc Production at Upper End of Guidance, with Mid-Term Guidance Unchanged

Published: Jan 21, 2026 18:17

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Teck Resources released unaudited production and sales results for the fourth quarter and full year 2025, and reaffirmed its previously disclosed production and unit cost guidance for 2026–2028. In 2025, zinc in concentrate production totaled 565 kt, coming in at the upper end of the guidance range of 525–575 kt. Fourth-quarter zinc concentrate sales reached 157.2 kt, with shipments from the Red Dog mine largely completed early in the quarter, consistent with normal seasonal sales patterns. Refined zinc production at the Trail Operations amounted to 229.9 kt in 2025, also at the top end of the guidance range of 190–230 kt. Teck noted that it continues to prioritize processing of residues to enhance profitability and cash generation, rather than maximizing refined zinc output. Looking ahead, Teck maintained its overall production guidance for 2026–2028, with refined zinc output expected at 190–230 kt in 2026, 260–300 kt in 2027, and 260–300 kt in 2028. However, following an updated mine plan finalized in the fourth quarter, 2026 zinc in concentrate production guidance for the Antamina mine was revised downward to 35–45 kt, from 55–65 kt previously.

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