Teck is reporting a gross profit of $168 million in Trail in the third quarter of this year.
That’s compared to a $53 million dollar gross profit during the same three months of 2025. It also brings the gross profit for the year in Trail to $627 million, compared to $175 million through the first nine months of last year.
The company says it continues to focus on improving Trail’s profitability and cash generation, including using stockpiled residues as feed sources.
“The benefit of these initiatives combined with improved pricing for by-products such as silver and germanium, contributed to an increase in gross profit,” the company said in its earnings report released today.
That was despite the fact that silver and germanium output was actually lower than last year.
Refined zinc production in Trail in the third quarter was 61,900 tonnes, up 9,300 tonnes from the same period of last year. Teck says that was due to the zinc electrolytic plant running at full capacity, whereas during the same time last year it operated at a lower rate.
Refined lead production was 21,800 tonnes, which was 4,200 tonnes more than during the same stretch of last year.
Operating costs in the third quarter rose 11 per cent over last year because the zinc plant ran at full capacity. The company also said it added $888 million back onto its books in Trail (described as a “pre-tax impairment reversal”) because metal prices are looking up.
The third quarter was highlighted in Trail by the announcement that the federal government will invest $400 million toward an $850-million expansion of the smelter’s capacity to handle certain minerals including germanium, gallium, and antimony.
Company-wide, Teck is reporting adjusted earnings of $2.3 billion in the third quarter, driven mainly by higher copper and zinc prices as well as higher by-product revenues and lower smelter processing charges.
Teck says it continues to work on securing the remaining approvals for its merger with Anglo American.
