Teck Resources reports Q4 profit up and record copper production

VANCOUVER — Teck Resources Ltd. reported its fourth-quarter profit rose compared with a year earlier as it ramped up operations at its Quebrada Blanca mine and produced a record amount of copper.

The Vancouver-based mining company says it earned a profit attributable to shareholders of $483 million or 92 cents per diluted share for the quarter ended Dec. 31, up from $266 million or 51 cents per diluted share a year earlier.

On an adjusted basis, Teck says it earned $1.40 per diluted share in its latest quarter, up from an adjusted profit of $1.07 per diluted share a year earlier.

Revenue totalled $4.11 billion, up from $3.14 billion in the fourth quarter of 2022.