Teck Resources reports Q3 profit compared with loss a year ago, revenue up

The result compared with a loss of $748 million or $1.45 per diluted share in the same quarter last year.

On an adjusted basis, Teck says it earned 76 cents per diluted share from continuing operations in its latest quarter, up from an adjusted profit of 60 cents per diluted share a year earlier.

Revenue totalled $3.39 billion, up from $2.86 billion in the same quarter last year.

Teck announced a deal last month to merge with U.K.-based miner Anglo American to form the Anglo Teck group, however the deal still faces review under the Investment Canada Act.

“The combination will unlock significant value for shareholders through integration of Quebrada Blanca and Collahuasi and meaningful corporate synergies, offering a compelling high-quality, copper-focused investment opportunity,” Teck chief executive Jonathan Price said in a statement.

Industry Minister Mélanie Joly has said Ottawa wants to see longer-term commitments to Canada if Teck is allowed to merge with Anglo American.

The companies have said the combination would create a $70-billion copper mining powerhouse with headquarters and top executives based in Vancouver. They have pitched it as a “merger of equals” even though Anglo American is worth more than double Teck. 

Teck and Anglo American have committed about $4.5 billion in spending in Canada over five years as part of the deal. However, a significant portion of that has already been announced by Teck, including the mine life extension of its Highland Valley copper mine. 

In reporting its third-quarter results, Teck said production at Quebrada Blanca continues to be constrained by the pace of development of a tailings management facility, requiring downtime in the concentrator.

This report by The Canadian Press was first published Oct. 22, 2025.

Companies in this story: (TSX:TECK.B)