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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.