Teck Resources reports Chilean mill and port outages

VANCOUVER - Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK), a mining giant with an $18.4 billion market capitalization and annual revenues of $6.8 billion, disclosed today that its Carmen de Andacollo Operations in Chile will undergo a month-long shutdown due to a mechanical issue with the SAG mill. Despite the halt in production, the company anticipates no significant impact on its 2025 copper production forecast, thanks to the rescheduling of other planned plant maintenance.

Simultaneously, Teck has reported a separate incident at the Quebrada Blanca port facility in Northern Chile. A temporary outage of the shiploader, estimated to last about a month, has occurred. Operations at the mine and plant remain unaffected, and shipments will continue through alternative ports, minimizing potential sales disruptions.

The company has reassured stakeholders that these incidents will not materially affect their previously announced guidance for annual copper production in 2025, both overall and for the individual operations at Carmen de Andacollo and Quebrada Blanca.

Teck Resources, headquartered in Vancouver, Canada, is a major player in the mining industry, focusing on metals critical to economic development and the energy transition. With operations in North and South America, Teck is committed to responsible growth and maintaining stakeholder trust.

The forward-looking statements in the press release reflect Teck’s current expectations regarding the duration of the outages and their impact on production and sales. However, they are subject to various risks, uncertainties, and assumptions, which could cause actual results to differ. These include potential delays in repair work, unforeseen technical issues, and changes in economic conditions.

The information in this article is based on a press release statement from Teck Resources Ltd.

In other recent news, Teck Resources Ltd. reported impressive first-quarter 2025 earnings, with earnings per share reaching $0.60, surpassing the forecasted $0.37. The company’s revenue also exceeded expectations, totaling $2.29 billion, compared to the anticipated $2.25 billion. This strong financial performance was attributed to significant growth in the copper and zinc segments, with the adjusted EBITDA more than doubling to $927 million. Despite these positive results, Teck Resources faced operational challenges, particularly affecting its QB production due to extended maintenance and adverse weather conditions. Benchmark maintained its Buy rating and $55.00 price target for the company, emphasizing Teck’s robust growth pipeline and potential shareholder returns. Additionally, Teck Resources declared a dividend of $0.125 per share, payable to shareholders on June 30, 2025, reflecting its commitment to providing value to investors. Meanwhile, Granite REIT announced its upcoming Annual General Meeting for unit holders, highlighting key governance practices and stakeholder engagement.

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