Teck Resources' Copper Surge Fuels Record Quarterly Profit

Teck Resources Ltd.'s profits skyrocketed to $854 million in Q2 due to higher copper production and prices.

The Vancouver-based miner's profit attributable to shareholders surged more than fourfold, from $206 million in the same quarter last year, reaching a staggering $1.93 per diluted share on an adjusted basis.

Realized copper prices rose to US$6.09 per pound during Q2, while production of the metal increased by 24% to 136,000 tonnes.

The company's revenue for the quarter soared to $3.61 billion, up from $2.02 billion in the same period last year.