Teck Resources (TSX: TECK.A, TECK.B)(NYSE: TECK) beat third-quarter profit estimates on Wednesday, lifted by higher copper and zinc prices, even as production at its Quebrada Blanca copper mine in Chile remained constrained by tailings work.
U.S.-listed shares of Teck rose 2% in pre-market trading.
The results come as Teck advances a merger with Anglo American (LON: AAL), announced in September, to form Anglo Teck, a top-five global copper producer headquartered in Canada.
The deal aims to unlock synergies between Teck’s Quebrada Blanca mine and Anglo’s nearby Collahuasi project in Chile and deliver roughly $800 million in annual savings.
The Canadian miner reported adjusted earnings of 76 Canadian cents per share for the quarter ended September 30, above analysts’ average estimate of 49 Canadian cents, according to LSEG data.
Teck said third‑quarter profit rose on stronger base…
