Teck noted that all outstanding major construction at QB was completed in Q1, including the shiploader and the molybdenum plant, which will be ramped up in the second quarter. The company also marked the first shipment of concentrate from its completed new port facility in the period.
“We had strong first quarter performance across our business, generating $1.7 billion of adjusted earnings, with steadily increasing quarterly copper production as QB ramp-up advances,” President and CEO Jonathan Price said.
The Antamina mine, in Peru, and Highland Valley Copper mine, in Canada, also had a strong performance, he said.
The miner reiterated full-year copper production of between 465,000 tonnes and 540,000 tonnes, well above the 296,500 tonnes it produced in 2023.
It also kept QB2’s project capital cost guidance unchanged at $8.6 – $8.8 billion.
“The investment case for Teck is very much dependent on the company…
