Teck Resources Ltd. (TCK,TCK_A.TO,TCK_B.TO) announced that its fourth-quarter net earnings were C$411 million or C$0.70 per share, compared to a loss of C$607 million or C$1.28 loss per share in the same period last year.
Net earnings in the fourth quarter included positive after-tax pricing adjustments of C$58 million and an after-tax gain of C$134 million from the sale of our interest in the Morelos gold project in Mexico. Partly offsetting these items were asset impairment charges of C$68 million on an after-tax basis related to our oil sands projects. The loss in 2008 included asset impairment charges of C$844 million and negative pricing adjustments of C$270 million on an after-tax basis.
The company said that adjusted net earnings were C$312 million in the quarter compared to C$130 million in 2008 as a result of higher base metal prices offset by significantly lower coal prices and the effects of a stronger Canadian dollar.
Revenues from operations were C$2.17 billion in the fourth quarter compared to C$1.60 billion a year ago.
The company expects that Highland Valley's copper production will be about 100,000 to 105,000 tonnes in 2010, and in 2011.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.