Commodities
Teck Copper Earnings Surge Amid Record Prices
Teck, a major mining company, reported tripled earnings due to high copper prices and increased output.
The company's net earnings more than doubled to $1.2 billion in the fourth quarter, compared to $444 million in the same period last year.
Copper prices have been on an upward trend, reaching a record high of around $10,000 per tonne in 2023.
Teck's copper production also increased by 17% year-over-year, contributing to the company's improved earnings.