Merger with Anglo American
Teck Resources Limited announced a merger of equals with Anglo American, expected to create a global leader in critical minerals and a top five copper producer with over 1,200,000 tons of annual copper production.
Improved Financial Performance
Adjusted EBITDA increased by 18% to $1.2 billion compared to the previous year, driven by higher base metals prices and lower smelter processing charges.
Strong Balance Sheet
Teck Resources Limited reported $9.5 billion in liquidity, including $5.3 billion in cash, ensuring a resilient financial position.
Operational Improvements
Completion of a comprehensive operational review leading to revised, risk-adjusted operational plans that are more conservative and achievable.
Safety and Sustainability Achievements
Improved safety performance with a high potential incident frequency rate of 0.06 and Chilean operations reaching 100% renewable power.