Teck Resources (NYSE: TECK) reported third-quarter adjusted EBITDA that doubled from a year earlier to C$2.3 billion, while operating cash flow rose to C$1.6 billion, driven by record copper prices and higher output. Copper production rose 11% to 116,000 tonnes despite severe weather, and the company kept its full-year Quebrada Blanca production outlook at 200,000 to 235,000 tonnes. Teck lowered its net cash unit-cost guidance to US$1.80–2.00 per pound for copper and US$0.30–0.40 per pound for zinc. Net cash reached C$1.9 billion, and the Anglo American merger remains on track pending Chinese regulatory approval, while a strike at Highland Valley Copper is reducing operations but is not expected to materially delay the mine-life extension project.
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