Teck Reports Third Quarter Financial Results
Teck reported a third quarter loss of $7-million at the Trail operation.
The operation would have posted a gross profit of $14-million if not for depreciation and amortization, but the overall number is still a $13-million improvement from July, August and September of 2019
The Company’s financial statement indicated production of refined zinc in Trail increased 6% to 76,400 tonnes, while refined lead production of 18,200 tonnes also represented an increase of 6%.
Officials said silver production fell by about 25% to 2.6 million ounces because of decreased amounts of the metal in concentrates.
Operating costs totalling $118-million at the Trail Operation were also about 3% lower than the year before.
Teck recorded a company-wide third-quarter profit of $61-million, down from $369-million in 2019.