NEW YORK Teck
Resources Ltd.s third-quarter earnings rose on higher
zinc and lead production and sales volumes, even though copper
production declined. The diversified miner also benefited from
favorable moves in exchange rates.
The Vancouver, British
Columbia-based company posted net income of Canadian $267
million ($256.1 million) for the three months ended Sept. 30,
up 4.3 percent from C$256 million in the same period a year
earlier, on sales that inched up 0.8 percent to more than
C$2.52 billion ($2.42 billion).
of refined zinc and zinc concentrate rose 6.4 percent to
233,000 tonnes and zinc concentrate sales jumped 21.7 percent
to 191,000 tonnes, while lead concentrate sales climbed 30.4
percent to 60,000 tonnes.
Copper production fell
to 91,000 tonnes, down 8.1 percent from a year ago, but Teck
still expects to hit its 2013 production forecast. Dale Andres,
senior vice president for copper, said the company expects to
offset a decline in grades at its copper mines with higher
Teck continues to see
a strong zinc market as the U.S. galvanizing industry is
running well due to strong automotive demand.
to see metal drawdown on the London Metal Exchange. The demand
side is shaping up very well; the North American galvanizing
lines are running at very strong rates," said Andrew Golding,
senior vice president for corporate development.