Teck Q2 Performance Booms on Record Copper Prices and Higher Volumes

Teck Resources reported its strongest quarterly performance in recent years, driven by record copper prices and higher production volumes. In Q2 2026, the mining company's adjusted EBITDA tripled year-over-year to CAD $2.2 billion.

This growth was fueled by record copper prices, which averaged US$6.09 per pound, up 40% from Q2 2025. The company also saw improved operational stability at its Quebrada Blanca (QB) operation, with mill availability reaching 92.4% and asset utilization of 86.1%. This stability led to significant progress on the QB tailings management facility.

Teck's focus on copper production is expected to continue, with a merger of equals with Anglo American advancing toward completion. The combined entity will create a leading critical minerals champion and top-five copper producer, with significant value creation potential.