The Conversation (0)
Teck Reports Unaudited First Quarter Results for 2018
Apr. 24, 2018 09:42AM PST
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 NuevaUnión 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, NuevaUnión, 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 NuevaUnión project, confirming the combination and phased development approach of Teck and Goldcorp’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 “prices 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.”
Click here to view the full Teck Resources Limited (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) press release.