Increased Adjusted EBITDA
Adjusted EBITDA increased by 3% to $722 million compared to the same period last year, driven by strong performance at Trail Operations and lower corporate overhead costs.
Strong Performance in Zinc Segment
Red Dog sales were above guidance, and there was a significant improvement in zinc net cash unit costs. The gross profit from zinc increased by 137% compared to the same period last year.
Highland Valley Copper Mine Life Extension
The Board sanctioned the Highland Valley Copper Mine Life Extension project, extending the mine to 2046 with an average annual copper production of 132,000 tonnes.
Significant Cash Returns to Shareholders
Returned $487 million through share buybacks in the quarter, with a total of $1.1 billion returned year-to-date. Approximately 70% of the $3.25 billion buyback program is completed.
Strong Liquidity Position
The company maintains a strong balance sheet with $8.9 billion in liquidity, including $4.8 billion in cash.
Corporate Knights Recognition
Teck was named one of Corporate Knights' Best 50 Corporate Citizens in Canada for the 19th consecutive year.