Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeCommoditiesMiningTeck delivers solid second quarter amid record copper pricesAs copper prices hit record highs, production is up and costs are down You can save this article by registering for free here. Or sign-in if you have an account.Production at Teck Resources' Highland Valley Copper Mine in British Columbia is up 32 per cent. Photo by Government of British ColumbiaRising commodity prices, lower operating costs and higher production helped Vancouver-based Teck Resources Ltd. beat analysts’ second-quarter earnings expectations.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorIts copper production rose 25 per cent compared to the same period a year ago, while its copper costs declined 29 per cent. The company said copper prices hit a record US$6.09 per pound, up 41 per cent year over year.The company’s unaudited results included $1.5 billion in profit before taxes and its earnings before interest, taxes, depreciation and amortization more than doubled to $2.2 billion.“Operationally, we continue to increase momentum across the business,” chief executive Jonathan Price said on a call with analysts.Copper demand globally is rising as a result of growing demand for use in data centres and more electrification. Miners such as Teck that produce the metal outside China are seeing increased attention from both investors and the government.All four of the company’s copper mines turned in higher production, led by its Highland Valley Mine in south-central British Columbia, where production grew 32 per cent year over year.Teck’s copper segment contributed $1.8 billion in gross profit before depreciation and amortization during the quarter compared to $673 million in 2025.Price said Quebrada Blanca, the company’s open-pit copper mine in Chile, achieved a third consecutive quarter of consistent operations after it had missed some of its production targets in years past.It produced 55.8 kilotons of copper, up one per cent from the first quarter and six per cent from a year ago.Teck is also moving ahead on a multibillion-dollar project that would extend the life of its Highland Valley mine, Canada’s largest copper mine, by nearly two decades to 2046.Meanwhile, its zinc segment generated $353 million compared to $159 million in 2025 despite production in the quarter falling 26 per cent year over year to 124 kilotons.The production decline was offset by rising zinc prices, up 31 per cent to US$1.57 per pound, as well as lower zinc production cash costs, which fell 29 per cent to US$0.35 per pound.Earlier this month, Teck announced it would sign a strategic investment agreement with Canada Growth Fund Inc. and Natural Resources Canada’s Canada Critical Minerals Accelerator, which could inject an additional $400 million to support the possible expansion of processing capacity for germanium, gallium, and antimony at its smelter in Trail, B.C.Teck posted $1.7 billion in operational cash flow in the second quarter and increased its net cash position to $1.2 billion.The company did not provide any key updates on its planned merger of equals with London-based Anglo American PLC, which is on track to close between this September and March 2027. The company is still waiting for approval from regulators in China, and Price said it could close “very quickly” afterwards, possibly in just a few weeks.“We believe we are well positioned to complete the merger and create a leading critical mineral company,” he said.The new company, to be called Anglo Teck, will be headquartered in Vancouver, but its primary stock listing will be on the London Stock Exchange. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.