Teck Reports Unaudited First Quarter Results for 2018

Base Metals Investing

Teck Resources has reported adjusted profit attributable to shareholders of CA$753 million (CA$1.31 per share) in the first quarter compared with CA$655 million (CA$1.13 per share) in 2017, and updated shareholders on progress at the NuevaUniĆ³n project.

Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) has reported adjusted profit attributable to shareholders of C$753 million (C$1.31 per share) in the first quarter compared with C$655 million (C$1.13 per share) in 2017.

In a press release Teck also included an update on the companies 50/50 joint venture with Goldcorp in Chile, NuevaUniĆ³n, which is described by Teck as one of the largest undeveloped copper-gold-molybdenum projects in the Americas.

As highlighted in the press release:

  • A Prefeasibility Study was completed on the NuevaUniĆ³n project, confirming the combination and phased development approach of Teck and Goldcorpā€™s previously separate Relincho and La Fortuna (formerly El Morro) projects. This has the potential to be an attractive long-life asset with very low unit costs in the initial years.

As quoted in the press release:

President and chief executive officer of Teck Don Lindsay said ā€œprices for our key commodities remained strong resulting in another good quarter for us, with adjusted earnings of C$753 million and adjusted EBITDA of C$1.6 billion.ā€

Click here to view the full Teck Resources Limited (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) press release.

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