Teck Resources (TSE:TECK.B) has released an update.
Teck Resources Limited has reported a robust second quarter in 2024 with a record $1.7 billion Adjusted EBITDA, driven by an all-time high in copper production and prices. Following the strategic sale of its steelmaking coal business for US$7.3 billion, the company is transitioning to focus solely on energy transition metals, primarily copper. The proceeds from the sale will be used to reduce debt, support copper growth, and return substantial cash to shareholders, including a $2.75 billion share buyback and a significant dividend payout set for September 2024.
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