Teck eyes copper production increase in 2023 CanadiansInvest
-NYSE) is forecasting a substantial increase in copper production this year as the company ramps up its world class QB2 copper project in northern Chile.
Forecasts for 2023 also reflect lower copper grades at the Antamina operation in Peru, the company said in a press release.Teck production and guidance numbers were released after the close of trading on January 30, 2023 when the company’s Class B common shares closed at $55.35. The shares are currently trading in a 52-week range of $57.50 and $32.68.
“Like others in the industry, we continue to face inflationary cost pressures, which have increased our operating costs compared to prior years,’’ Teck said in a press release. “The increase in cost of certain key supplies, including mining equipment, fuel, tires and explosives, are being driven largely by price increases for underlying commodities such as steel, crude oil, and natural gas.
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