Teck Announces 2025 Production and Sales Update and Reaffirms Outlook

Core Viewpoint - Teck Resources Limited has reported its fourth quarter 2025 production and sales volumes, reaffirmed production and cost guidance for 2026 to 2028, and anticipates positive settlement pricing adjustments due to increased base metal prices [1][7]. Production Results - Teck's annual copper production for 2025 was 453,500 tonnes, aligning with guidance, supported by strong operational performance, particularly at Quebrada Blanca, which produced 55,400 tonnes in Q4 [3][6]. - Annual zinc in concentrate production reached 565,000 tonnes, at the higher end of guidance, with Q4 sales of 157,200 tonnes [4][6]. - Refined zinc production for 2025 was 229,900 tonnes, also at the high end of guidance, focusing on profitability through residue processing [5][6]. Pricing Adjustments - The company expects to report positive settlement pricing adjustments of $295 million in Q4 2025 due to an increase in base metals prices [7]. Guidance - There are no changes to the previously disclosed annual production guidance for 2026–2028, with a specific decrease in 2026 zinc in concentrate production guidance for Antamina from 55,000–65,000 tonnes to 35,000–45,000 tonnes [8]. - The 2026 annual copper production guidance for Antamina remains unchanged at 95,000–105,000 tonnes [8].