Teck made a $10 million profit at its Trail operation in the second quarter of this year, despite lower zinc and lead production.
That’s compared to a $7 million loss in the same period of 2022. Year-to-date Teck has made $22 million in Trail, compared to $7 million in the first half of last year.
The copmany reported refined zinc production of 67,900 tonnes, 2,300 tonnes lower than a year ago. It says that was due to a planned roaster shutdown and installing new automated equipment to cast zinc.
Refined lead production of 16,200 tonnes was 2,200 tonnes lower than a year ago, and was affected by unplanned KIVCET boiler repairs. Due to the ongoing repairs required, the company now plants to replace the boiler next year instead of 2026.
“Based on this decision, we are expecting a reduction of by-product production in 2024, which will result in lower profitability,” the company wrote in its earnings report.
Operating costs in the second quarter, before changes in inventory, were seven per cent higher than a year ago at $156 million, primarily due to the maintenance on the zinc roaster.
Overall, Teck is reporting a second-quarter profit of $1.4 billion, most of that coming from its coal division. It made $3.1 billion in the first half of last year.
Year-to-date Teck’s profit is $3 billion, compared to $5.6 billion in 2022.
