Teck Resources (TSX:TECK.A, TECK.B, NYSE:TECK) has announced its unaudited first quarter results for 2026, reflecting a strong financial performance driven by record quarterly copper sales and favorable commodity prices.
Chairman and CEO Jonathan Price emphasized the company’s strategic focus on disciplined execution across its operations, highlighting the significant contribution of the Quebrada Blanca mine in Chile, which achieved all-time high quarterly copper sales.
Financial highlights show significant growth
Teck Resources reported adjusted EBITDA of C$2.1 billion in the first quarter of 2026, representing an increase of 125 percent compared to the same period last year. This growth was primarily supported by record copper sales volumes, higher commodity prices and increased revenues from by-products.
The company also achieved a pre-tax profit of C$1.3 billion, while adjusted profit attributable to shareholders rose to C$858 million, or C$1.75 per share.
Copper section operated by Quebrada Blanca
The Quebrada Blanca segment recorded copper sales of 70,300 tonnes, setting a new quarterly record. This performance exceeded the production volume of 55,500 tonnes, reflecting operational stability and strategic inventory management. Despite the planned maintenance shutdown, Quebrada Blanca production remained in line with Q4 2025, improving production performance.
Overall, the company’s copper segment achieved C$1.8 billion in gross profit before depreciation and amortization, significantly up from C$704 million year-on-year.
Zinc segment and operational stability
Apart from the copper segment, Teck’s zinc operations also recorded strong results. The zinc segment earned gross profit before depreciation and amortization of C$387 million, compared to C$225 million in the previous year. This was driven by higher commodity prices and a focus on cash flow generation at its Trail operations in Trail, British Columbia, Canada.
Strategic merger with Anglo American
Teck continues to pursue its counterparty merger with Anglo American (LSE:AAL,OTCQX:NGLOY), a strategic move aimed at creating a global critical minerals leader. The merger, which aims to deliver significant pre-tax synergies and enhance the strategic position, has received shareholder and regulatory approval. The combined entity, Anglo Tech, is expected to generate substantial operational and financial benefits.
Global Copper Market Trends
Copper’s role in the green energy transition and urbanization has made it an important metal in today’s economy. However, there are concerns about the long-term supply of copper, as few new operations come online and existing mines face declining grades. This “Peak Copper” scenario particularly highlights the importance for investors to understand global copper reserves.
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