Teck Resources Sees Profit Surge Amid Record Copper Prices and Merged Operations

Teck Resources reported strong second-quarter results in 2026, driven by record copper prices and increased production at its Quebrada Blanca (QB) copper mine. The company's adjusted EBITDA surged to C$2.2 billion, more than tripling year on year, while adjusted profit attributable to shareholders rose to C$948 million.

The increase in profitability was fueled by a 25% jump in group copper volumes to 135,900 tonnes, with Q2 2026 copper production reaching 55,800 tonnes at QB. The company's copper segment gross profit before depreciation and amortization climbed to C$1.8 billion.

Teck also reaffirmed its progress on the merger of equals with Anglo American, which is expected to create a Canadian-headquartered critical minerals champion and unlock cost and growth synergies for stakeholders. The deal was approved by shareholders in December 2025 and is targeting completion within the initial 12-18 month window.