TECK Jan 2025 60.000 call

UPDATE 1-Teck Resources sees $3 bln in annual EBITDA if copper stays around current levels

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.