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Teck Resources’ 2023 copper output from Quebrada Blanca below target (NYSE:TECK)
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- Teck Resources’ (NYSE:TECK) copper production volumes from Quebrada Blanca operations in Chile, excluding copper cathode, totaled 56,200 tonnes, below the bottom end of the company’s guidance range of 80,000 tonnes for 2023 due to consistency issues in the fourth quarter, it said Wednesday.
- Fourth quarter production was 35,000 tonnes.
- Regarding the Quebrada Blanca Phase 2 project, Teck (TECK) said, the construction of the molybdenum plant was substantially completed in December, and commissioning has commenced. Ramp-up of the molybdenum plant is expected to be completed by the end of the second quarter of 2024.
- Fourth quarter steelmaking coal sales were 6.1 million tonnes, near the top end of previously disclosed guidance of 5.8 – 6.2 million tonnes.
- The realized steelmaking coal price in the fourth quarter averaged $270 per tonne. Tech expects to report positive steelmaking coal provisional pricing adjustments of $89 million in the fourth quarter.
- Teck Resources (TECK) expects to provide full 2023 production results and 2024 guidance on January 16.
- Source: Press Release
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