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HomeRegional NewsNewsTeck reports $50M Q4 loss in Trail

Teck reports $50M Q4 loss in Trail

Teck says it lost $50 million at its Trail operations in the fourth quarter of 2022.

That compares with a $10 million profit in the fourth quarter of the previous year.

In its earnings report today, the company said gross profits from zinc production declined 74 per cent due to a drop in average prices to $1.38 US per pound plus the impact of extended major maintenance to the Kivcet boiler in Trail.

Company-wide, however, Teck reported a fourth-quarter adjusted profit of $558 million and a record $4.9 billion on the year.

Teck also announced it is reorganizing its business into two separate companies: Teck Metals Corp. and Elk Valley Resources Ltd.

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