Canada's Teck sees no material impact from Trump tariffs

By Mrinalika Roy

(Reuters) -Canadian miner Teck Resources said on Thursday U.S. President Donald Trump's proposed tariffs on Canadian imports will not have any material impact on its business.

"Our copper and zinc concentrate sales would not be impacted as we primarily sell to Asia and Europe and not into the U.S.," CEO Jonathan Price said on a post-earnings call.

The company does sell some products in the US – mainly zinc and lead refined at its Trail operations in British Columbia, as well as speciality metals such as germanium, indium and sulfur.

While Teck produces a large proportion of these diverse group of metals, they comprise less than 15% of the company's revenue, Price said.

"In the event tariffs are imposed, we expect trade flows to adjust," he added.

Teck shares were trading nearly 2% higher midday after the miner beat analysts' estimates for fourth-quarter profit, helped by higher copper production volumes at its Chile mine.

Total copper output in the reported quarter came in at 122,100 tonnes, a 19% jump from a year earlier, with 60,700 tonnes from its Quebrada Blanca (QB) mine in Chile.

Strong sales volumes and favourable prices of the red metal also supported.

The company has been investing in the QB debottlenecking project and expects it could lead to a further increase in throughput by 10-15%.

Teck expects copper production to range between 490,000 and 565,000 tonnes in 2025.

The company reported an adjusted profit of C$0.45 ($0.3168) per share for the quarter ended December 31, compared with analysts' average estimate of C$0.43 per share, according to data compiled by LSEG.

($1 = 1.4205 Canadian dollars)

(Reporting by Mrinalika Roy in Bengaluru; Editing by Sriraj Kalluvila and Shailesh Kuber)

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