Improved Profitability
Teck's profitability improved with an adjusted EBITDA of $722 million, a 3% increase compared to the same period last year.
Strong Zinc Segment Performance
The zinc segment showed strong performance, with Red Dog sales above guidance and a 137% increase in gross profit before depreciation and amortization compared to the same period last year.
Highland Valley Copper Mine Life Extension
The Board has sanctioned the Highland Valley Copper Mine Life Extension project, which is expected to double copper production by the end of the decade and generate compelling returns.
Significant Cash Returns to Shareholders
Teck returned $1.1 billion to shareholders year-to-date, with $487 million in share buybacks during the quarter, completing approximately 70% of the authorized $3.25 billion buyback.
Corporate Knights Recognition
Teck was named as one of Corporate Knights' Best 50 Corporate Citizens in Canada for the 19th consecutive year.