Teck Q4 Production Rises

(RTTNews) - Teck Resources Ltd. (TECK), a mining company, Tuesday reported higher metal production and sales for the fourth quarter.

Further, the company issued production guidance for the years 2024, 2025, 2026 and 2027.

Quarterly production of copper increased to 103.5 tons from 65.4 tons of last year. Sales increased to 101.2 tons from 63.6 tons, last year.

Production of Zinc rose to 181.8 tons from 143.7 tons in the previous year. However, sales edged down to 164.1 tons from 164.7 tons in the prior year.

Steel making coal grew to 6.4 million tons from 4.9 million tons over a year ago. Sale of steel making coal climbed to 6.1 million tons from 4.3 million tons of last year.

The company expects production of Copper to be in the range of 465 tons to 540 tons for 2024, 550 tons-620 tons for 2025, and 2026 and 530 tons-600 tons for 2027.

It expects production of Zinc to be in the range of 565 tons to 630 tons for 2024, 555 tons-615 tons for 2025, 465 tons-525 tons for 2026, and 400 tons-445 tons for 2027.

Teck expects production of Steelmaking coal to be in the range of 24 million tons to 26 million tons for 2024, 2025, 2026 and 2027.

On Monday, Teck shares closed at $38.05, down 1.42% on the New York Stock Exchange.