Teck says its Q2 2023 profit declined due to lower commodity prices

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 78%

Canada Headlines News

Canada Latest News,Canada Headlines

Teck says its Q2 2023 profit declined due to lower commodity prices Teck

- Teck Resources today reported profit from continuing operations attributable to shareholders of C$510 million in Q2 2023, compared to a profit of C$1,582 million in Q2 2022 .

“Our financial performance was strong in the second quarter, but decreased from the same period last year when commodity prices were at historically-high levels across our commodities,” it added. Importantly, the company said it completed the first shipment and sale of copper concentrate at its Quebrada Blanca phase 2 project in Chile in the second quarter, adding that line 1 is operating well as per expectations and line 2 is in commissioning.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Teck Resources misses quarterly profit estimates, lowers annual copper output targetTeck said it lowered its annual copper production outlook due to delays at a project in Chile
Source: globeandmail - 🏆 5. / 92 Read more »

Teck announces employee death, lowers production guidance at copper mine project - BNN BloombergTeck Resources Ltd. announced the death of an employee at its Quebrada Blanca copper mine expansion in Chile as it reported a profit attributable to shareholders of $510 million in its second quarter, down from $1.7 billion for the same period last year.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Teck Resources misses profit estimates, lowers annual copper output targetThe Quebrada Blanca Phase 2 project (QB2) in the South American country is one of the largest undeveloped copper resources in the world, and Teck had previously said it expected to achieve full production rates by the end of 2023. 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. The company said it now expects annual copper production of 330,000 tonnes to 375,000 tonnes, down from its previous estimate of 390,000 tonnes to 445,000 tonnes.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Teck lowers outlook at biggest copper project as it eyes shift away from coalTeck Resources lowers its copper production outlook because of delays at its Chile mine. Read more
Source: nationalpost - 🏆 10. / 80 Read more »

Teck lowers outlook at biggest copper project as it eyes shift away from coalTeck Resources lowers its copper production outlook because of delays at its Chile mine. Read more
Source: financialpost - 🏆 7. / 85 Read more »

Teck’s FY copper guidance hits a bump with QB2 delaysCanada-headquartered Teck Resources will miss its previously guided copper production target by between 60 000 t and 70 000 t, owing to delays in construction and commissioning of its Quebrada Blanca Phase 2 (QB2) in Chile. The miner lowered its guidance for QB2 to between 80 000 t and 100 000 t for the year, resulting in its overall guidance falling to between 330 000 t and 375 000 t.
Source: MiningWeeklyCA - 🏆 48. / 63 Read more »