missed profit estimates for second-quarter profit on Thursday and lowered its annual copper production outlook due to delays at a project in Chile.
Teck, the target of a takeover bid by Swiss commodity giant Glencore, also reported the death of an employee at QB2 during the second-quarter. For the reported quarter, realized prices for steelmaking coal and copper fell 41 per cent and 11 per cent respectively, denting profit. Quarterly copper production fell about 11 per cent to 64,000 tonnes, while production of steelmaking coal rose 9.4 per cent to 5.8 million tonnes.
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