By Canadian Press

Teck Resources says Quebrada Blanca copper production below guidance for 2023

Jan 4, 2024 | 8:20 AM

VANCOUVER — Teck Resources Ltd. says production for 2023 at its Quebrada Blanca mine fell short of its guidance due to reliability and consistency issues in the fourth quarter.

The Vancouver-based miner says copper production from QB, excluding copper cathode, totalled 56,200 tonnes compared with the bottom end of its guidance range for 80,000 tonnes for 2023. Fourth quarter production was 35,000 tonnes.

Teck says its focus in the fourth quarter was on achieving reliable and consistent operations at QB, but that it took longer than expected. It added that the operations were working near design capacity by the end of December.

On the steelmaking coal side of its operations, Teck says sales in the fourth quarter totalled 6.1 million tonnes, near the top end of its guidance.

Teck’s realized steelmaking coal price in the fourth quarter averaged US$270 per tonne. 

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The company is expected to provide its full 2023 production results and 2024 guidance on Jan. 16 and report its fourth-quarter financial results on Feb. 21.

This report by The Canadian Press was first published Jan. 4, 2024.

Companies in this story: (TSX:TECK.B)

The Canadian Press