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Teck Resources , Canada’s largest diversified miner, beat profit estimates for the fourth quarter of 2023 on the back of higher steelmaking coal sales,The Vancouver-based miner said its realized copper prices increased by 2%. Production of the metal surged 58% to 103,000 tonnes in the last three months of 2023 from 65,000 tonnes a year earlier, as it ramped up operations at its Quebrada Blanca mine in Chile.
Total copper output for the fourth quarter of 2023 reached 296,000 tonnes, compared to 270,000 in the same period of 2022. “We had strong fourth quarter performance across our business, generating adjusted earnings before interest, taxes, depreciation, and amortization of $1.7 billion in the quarter, returning cash to shareholders and advancing ramp-up of our Quebrada Blanca operations, resulting in Teck’s record quarterly copper production,” chief executive Jonathan Price
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