Teck expects to be rolling in the dough if copper remains near current levels

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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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YourNadir

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Teck expects to be rolling in the dough if copper remains near current levels

posted on May 16, 2024 10:17PM

Well positioned for a buyout, and that's not even counting all of their coal sale money!

Teck Resources Ltd expects to generate annual earnings before interest, depreciation, tax and amortization (EBITDA) of $3 billion if copper prices hit $5 per pound, CEO Jonathan Price said on Tuesday.

For Vancouver, Canada-based Teck, copper is the main driver of profitability after it sold its steel-making coal business to a consortium of buyers led by Swiss miner Glencore for $8.9 billion last year.

Price, speaking at the Bank of America Metals, Mining and Steels conference in Miami, gave a range of predictions for Teck’s annual EBITDA at different copper prices, the lowest being $2 billion if copper trades at $4 per pound.

https://www.mining.com/web/teck-sees-3bn-in-annual-ebitda-if-copper-stays-around-current-levels/

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