Teck’s Trail operation made a healthy profit in the first quarter of this year, although it was down by a third from the same period of the previous year.
The company reported a gross profit of $34 million from January to March of this year, versus $43 million in the first quarter of 2021.
It says refined zinc production of 68,700 tonnes was 5,000 tonnes lower than a year ago, due to “operational challenges.” Refined lead production of 18,600 tonnes was also 1,100 tonnes lower than the same period last year.
Teck says operating costs were 13 per cent higher than a year ago at $135 million, primarily due to higher energy, labour and consumables costs.
Company-wide, Teck is reporting a quarterly record profit of $2.5 billion in the first quarter, which is nearly four times higher than in the same period last year.
(CORRECTION: An earlier version of this story misstated Teck’s gross profit in Trail as $14 million.)