Teck

What Teck does

Teck Resources Limited is a major Canadian diversified mining company headquartered in Vancouver, British Columbia, operating across Canada, Chile, Peru, and the United States. The company produces copper, zinc, and specialty metals from four operating copper mines (Highland Valley Copper, Quebrada Blanca, Carmen de Andacollo, and a 22.5% interest in Antamina), the Red Dog zinc mine in Alaska, and the Trail Operations integrated zinc and lead smelting and refining complex in British Columbia, which is also the only commercial-scale germanium recovery facility in North America. The product portfolio is positioned around energy transition metals: copper for electrification, electric vehicles, AI data center infrastructure, and power grid modernization; zinc for construction, galvanization, and die-casting; and specialty metals (germanium, molybdenum, lead) for defense, semiconductor, and industrial applications. The company also holds a 10% net profit interest royalty on Barrick's Fourmile gold project in Nevada.

The company generates revenue through direct B2B sales of copper concentrates, cathode copper, zinc concentrates, refined zinc, and lead to industrial offtakers, smelters, and traders globally. Pricing is determined by LME commodity exchange benchmarks and negotiated treatment and refining charges; the company does not publish fixed list pricing. In Q1 2026, Teck reported revenue of $3.9 billion (up 70% YoY) and adjusted EBITDA of $2.1 billion (up 125% YoY), with record quarterly copper sales of 155,000 tons at $5.83/lb and copper gross profit of $1.4 billion. The company declared a quarterly dividend of $0.125 per share in April 2026. Teck is undergoing a transformational $53 billion merger of equals with Anglo American, announced in September 2025 and expected to close between September 2026 and March 2027, which would create a top-five global copper producer with over 70% copper exposure, six world-class copper assets, projected annual copper production of 1.2 million tons, and $800 million in annual pre-tax synergies.

Teck's underlying technology stack is built on conventional open-pit and underground mining enhanced by digital systems: over 100 autonomous haul trucks across operations (delivering up to 15% efficiency gains), digital twins, blockchain-based traceability, digital water management (achieving a 30% reduction in water usage at select mines since 2018), and a distributed acoustic sensing (DAS) pilot with Calgary-based startup Lumidas for tailings dam monitoring. The company is also investing in CCUS at Trail Operations with a $10 million CleanBC Industry Fund grant and deploying solar-plus-battery storage at Schaft Creek with Solvest and the Tahltan Nation Development Corporation, targeting net-zero emissions by 2050.

Name

Teck

Legal name

Teck Resources Limited

Website

http://www.teck.com/

Company type

Public

Founded year

1913

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Teck Resources Limited is a Vancouver-headquartered Canadian diversified miner producing copper, zinc, and specialty metals (including germanium) from mines in Canada, Chile, Peru, and the United States, selling concentrates and refined products to global industrial offtakers and smelters. The company is undergoing a $53 billion merger of equals with Anglo American to form a top-five global copper producer.

Ownership category

akta.pro rank

Product category

Copper and Zinc Mining

NAICS

Nonferrous Metal (except Aluminum) Smelting and Refining (33141), Secondary Smelting, Refining, and Alloying of Nonferrous Metal (except Copper and Aluminum) (331492), Recyclable Material Merchant Wholesalers (423930)

SIC

Secondary Smelting & Refining Of Nonferrous Metals (3341), Primary Smelting & Refining Of Nonferrous Metals (3330)

akta.pro primary industry

Rare Earths Mining & Concentrates (REE Ores) (IMAKAFAG)

Keywords

• Copper mining production
• Zinc concentrate refining
• Base metals extraction
• Mining concentrate sales
• Industrial mineral commodities

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Copper Sales: Sale of copper concentrates and cathode copper from four operating copper mines (Highland Valley Copper, Quebrada Blanca, Carmen de Andacollo, Antamina). Q1 2026 record copper sales of 155,000 tons at average price of $5.83 per pound, with copper gross profit reaching $1.4 billion. Copper production of 140,000 tonnes in Q1 2026, up 32% year-over-year.
2. Zinc Sales: Sale of zinc concentrates and refined zinc products from Red Dog mine in Alaska and Trail Operations in British Columbia (one of the world's largest fully integrated zinc and lead smelting and refining complexes).
3. Other Metals and By-products: Production and sale of other metals including molybdenum (as a by-product of copper operations), lead, and specialty metals. Trail Operations is the only commercial-scale germanium recovery facility in North America.
4. Royalty Income: Teck holds a 10% net profit interest (NPI) royalty on Barrick's Fourmile gold project in Nevada, which increases to 15% once six million ounces of gold are produced. Analysts estimate the royalty could generate approximately US$300 million annually given Fourmile's expected production of up to 750,000 ounces annually for at least 25 years.
5. Steelmaking Coal (Legacy): Sale of steelmaking coal from Canadian operations (Elk Valley operations including Line Creek, Coal Mountain, Cardinal River, and Fording River), being divested as part of the Anglo American merger and portfolio restructuring.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Teck is a diversified resource company that mines and markets copper concentrates and cathode copper from four operating mines and zinc concentrates and refined zinc/lead from Red Dog (Alaska) and Trail Operations (British Columbia). It also recovers specialty metals including germanium (the only commercial-scale germanium recovery in North America), molybdenum, and lead, and sells downstream industrial products and fertilizers. The pending Anglo American merger is repositioning the company as a copper-focused global producer while divesting steelmaking coal assets.

Product overview

Teck Resources is a diversified mining company offering a portfolio of metal products centered on copper and zinc. The core product lines include copper (produced from four operating mines: Highland Valley Copper, Quebrada Blanca, Carmen de Andacollo, and Antamina) and zinc (produced from Red Dog and Trail Operations). Teck operates the fully integrated Trail Operations complex in British Columbia, which is the only commercial-scale germanium recovery facility in North America. Development projects including Galore Creek, HVC Mine Life Extension, Zafranal, and NuevaUnion represent future copper growth pipeline. The company also produces industrial products and fertilizers as downstream offerings.

Differentiator

Problem solved

Functional benefit

Products and services

• Copper Copper concentrates and cathode copper produced from four operating copper mines in the Americas. Sold to industrial smelters, traders, and manufacturers globally. Essential for power generation, transmission, construction, clean technology, electronics, and data centers. Q1 2026 record copper sales of 155,000 tons at average price of $5.83/lb.
• Zinc Zinc concentrates and refined zinc produced from Red Dog Operations (one of the world's largest zinc mines) and the integrated Trail Operations smelting and refining complex. Sold globally for galvanization, die-casting, brass production, and industrial applications.
• Other Metals (Lead, Germanium, Molybdenum) Production and sale of other metals including lead, molybdenum (a by-product of copper operations), and specialty metals. Trail Operations is the only commercial-scale germanium recovery facility in North America, supplying germanium priced at $5,800-8,600/kg for fiber optics, electronics, semiconductor, and defense applications.
• Industrial Products and Fertilizers Downstream products including fertilizers and industrial chemicals produced from by-products of Teck's Trail Operations smelting activities. Sold to industrial and agricultural customers.

Quantifiable outcome

• 125% year-over-year increase in Adjusted EBITDA to $2.1 billion in Q1 2026
• +5 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

13 partnerships are on record, tiered minor and core.

• Titan Mining CorporationminorStrategic or Co-development Partner · 13 May 2026Titan Mining and Teck entered into a cooperation agreement to evaluate the potential recovery of approximately 13,000 kg/year of germanium from existing waste streams at Titan's Empire State Mines in upstate New York. Teck's Trail Operations, the only commercial-scale germanium recovery facility in North America, would process the feedstock, leveraging its established metallurgical capabilities. Germanium pricing ranges from $5,800-8,600/kg, with the initiative positioning Titan as a domestic U.S. supplier for defense and semiconductor supply chains.
• Kodiak Copper Corp.coreStrategic or Co-development Partner · 29 April 2026Teck Resources and Kodiak Copper signed a non-binding letter of intent to create Kay Copper, a new US-focused copper exploration company, through a three-cornered amalgamation. Teck contributes its Copper Hill project in Arizona while Kodiak contributes its Mohave project. Upon closing (targeted Q3 2026), both Teck and Kodiak will each hold approximately 28% ownership in Kay Copper, to be listed on the TSX Venture Exchange. The combined entity will have multiple drill-ready porphyry targets with drilling planned for 2026. A concurrent financing of C$4.0 million plus an initial financing of $830,000 was completed.
• Valhalla Metals Inc.minorStrategic or Co-development Partner · 21 April 2026Valhalla Metals entered into a Purchase and Sale Agreement with Teck American Incorporated to acquire 100% of the Smucker Project, a polymetallic volcanogenic massive sulfide deposit in Alaska's Ambler Mining District. Valhalla issued 44,813,642 shares to Teck (approximately 35% of Valhalla), plus a 2.0% NSR royalty and priority offtake rights on concentrate production. The transaction consolidates the Smucker Project with Valhalla's adjacent Sun Project. Valhalla also subscribed for $1.75 million of Valhalla's private placement, with the transaction expected to close in June 2026.
• Blue Moon Metals Inc. (Apex Mine)minorStrategic or Co-development Partner · 16 March 2025Blue Moon Metals finalized its acquisition of the Apex Mine from Teck American Incorporated after receiving TSX-V approval. The transaction resulted in Teck holding an 8.0% undiluted interest in Blue Moon through issuance of over 7 million common shares. The property consists of 24 patented and 9 unpatented claims focused on germanium and gallium production. Blue Moon granted Teck a 0.5% NSR royalty, assumed a 3.0% existing NSR royalty obligation, and entered into a life-of-mine zinc off-take agreement.
• Government of British Columbia (CleanBC Industry Fund)minorOthers · 12 July 2023Teck Trail Operations received $10 million from the B.C. government's CleanBC Industry Fund to support its Carbon Capture Utilization and Storage (CCUS) pilot project. The project aims to capture and potentially scale up CO2 sequestration, supporting Teck's sustainability goals to reduce carbon intensity and achieve net zero emissions by 2050.
• Copper Fox Metals Inc. (Schaft Creek Joint Venture)coreStrategic or Co-development PartnerThe Schaft Creek Joint Venture is operated by Teck Resources Limited (75% interest), while Copper Fox holds the remaining 25%. The Schaft Creek copper-gold-molybdenum-silver project in northwestern British Columbia is one of the largest undeveloped porphyry copper deposits in North America, with Teck having invested approximately $90 million since 2013. The 2026 program involves C$9.1 million in planned expenditures focused on transitioning from Scoping Stage to Pre-Feasibility Stage.
• AbraSilver Resource Corp. (La Coipita Earn-in)minorStrategic or Co-development PartnerTeck Resources operates and fully funds an earn-in and joint venture agreement at the La Coipita copper-gold-molybdenum project in Argentina's San Juan Province. Teck has completed approximately US$23 million in expenditures across 19 holes against a US$20 million earn-in commitment. Upon completion, the joint venture will hold 80% Teck and 20% AbraSilver. Hole DDH-LC26-010 returned 747.5m grading 0.69% Cu, 0.06 g/t Au and 142 ppm Mo — the strongest intercept recorded to date at the project.
• Anglo American plc (Merger of Equals)coreStrategic or Co-development PartnerTeck Resources and Anglo American agreed to a merger of equals valued at approximately $53 billion, with regulatory approval expected between September 2026 and March 2027. The combined entity would hold six world-class copper assets, top five global copper producer status, with management targeting $800 million in annual pre-tax synergies and $1.4 billion EBITDA uplift. Anglo will hold 62.4% and Teck 37.6% of the combined entity. The new entity (Anglo Teck) will have a primary listing on the London Stock Exchange with secondary listings in Johannesburg and Canada. Anglo shareholders to receive a $4.5bn special dividend upon completion.
• Hayasa Metals Inc. (Urasar and Vardenis Projects)minorStrategic or Co-development PartnerTeck Resources holds an earn-in partnership on Hayasa Metals' Urasar Project and Vardenis Project in Armenia. The 2025 ten-hole diamond drill program totaling 4,561 meters at Vardenis revealed notable anomalies in copper, molybdenum, and gold but did not intersect significant economic mineralization. The company and Teck are reviewing drilling results and planning future exploration including upcoming AMT surveys at the Urasar project.
• Condor Resources Inc. (Cobreorco Project)minorStrategic or Co-development PartnerTeck Resources entered into an option and joint venture agreement with Condor Resources for the Cobreorco copper-gold project in Apurímac, Peru. A 3,500-metre diamond drilling program commenced in Q2 2026, comprising six priority holes to test a coincident copper-gold skarn and porphyry target defined by overlapping magnetic, gravity, and induced polarization anomalies.
• Tahltan Nation Development Corporation (TNDC) (Schaft Creek Solar)minorStrategic or Co-development PartnerTeck and the Tahltan Nation Development Corporation partnered to deploy a solar power project at Schaft Creek development project in Tahltan Territory, northwestern British Columbia. TNDC partnered with Solvest (a northern Canada solar company) to install solar panels with battery storage. The array and battery installation reduces camp power carbon emissions by over 70%, with an 83% reduction in diesel fuel consumption in one month of full utilization in 2024. The model creates economic benefits for TNDC while reducing fuel costs and carbon emissions for mining operations.
• Solvest Inc. (Schaft Creek Solar)minorStrategic or Co-development PartnerSolvest, a solar company based in northern Canada, partnered with TNDC and Teck to install solar panels with battery storage at Schaft Creek. The solar array and battery installation achieved over 70% reduction in camp power carbon emissions and 83% reduction in diesel fuel consumption in one month of full utilization in 2024.
• Intrepid Metals Corp. (Corral Copper Property)minorStrategic or Co-development PartnerTeck Resources provided input on Intrepid Metals' 2026 Exploration Program at the Corral Copper Property in Cochise County, Arizona. The Phase 1 program includes geological mapping, electromagnetic geophysical surveys (approximately 65-line km of IP and MT surveys), and geochemical campaigns with over 450 rock samples, designed to refine porphyry copper-gold targets ahead of planned Phase 2 diamond drilling in Q3/Q4 2026.

Scale indicators12 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Anglo American plc: Anglo American is Teck's announced merger-of-equals partner and a global diversified miner with significant copper exposure (Quellaveco, Collahuasi, Los Bronces) and platinum, iron ore, and diamond operations. The combination is positioned to create a top-five global copper producer, making Anglo the single most direct strategic and operational peer.
• Freeport-McMoRan Inc. Freeport-McMoRan is the world's largest publicly traded copper producer (Grasberg mine in Indonesia, major U.S. and South American operations) and a direct peer on copper volume, copper growth pipeline, and exposure to the same electrification/AI demand thesis driving Teck's strategy.
• First Quantum Minerals Ltd. First Quantum is a mid-cap pure-play copper producer (Cobre Panamá historically, Sentinel, Cueva de las Cobre, Kansanshi in Zambia) and one of the closest direct comparables to Teck on copper focus, African/Latin American geographic exposure, and growth pipeline economics.
• Antofagasta plc: Antofagasta is a Chile-focused copper producer (Los Pelambres, Centinela, Antucoya) and one of the most direct operational comparables to Teck on Chilean copper mining economics, water/resource management, and exposure to Chilean political and regulatory risk.
• Hudbay Minerals Inc. Hudbay is a mid-tier copper-gold-zinc producer (Constancia in Peru, Snow Lake in Manitoba, Copper Mountain in B.C.) and a direct comparable on scale, copper-zinc product mix, and North/South American mining footprint.
• Capstone Copper Corp. Capstone Copper is a pure-play copper producer (Pinto Valley, Cozamin, Mantos Blancos, Santo Domingo) and a direct comparable to Teck on copper-focused strategy, the Americas geographic footprint, and exposure to the same electrification demand thesis at a smaller scale.
• Boliden AB: Boliden is a Swedish integrated zinc-copper miner and smelter with operations across the Nordics, Ireland, and Portugal. It is a direct peer on the integrated zinc mining-smelting business model (analogous to Teck's Red Dog-to-Trail zinc chain) and on copper-byproduct exposure.

Broad incumbents

• BHP Group Limited: BHP is a globally diversified major miner (iron ore, copper, potash, coal) with a major copper growth portfolio (Escondida, Pampa Norte, Olympic Dam, Resolution). It is a broad incumbent peer in the same copper supply-demand thesis and competes with Teck for development capital and global copper market share.
• Rio Tinto Group: Rio Tinto is a major diversified miner with significant copper exposure (Kennecott, Oyu Tolgoi, Resolution) and a large iron ore business. It is a broad incumbent peer for capital allocation, copper growth strategy, and ESG positioning relative to Teck's portfolio.
• Glencore plc: Glencore is a major diversified miner and commodity trader with significant copper (Antapaccay, Las Bambas, Mt Owen) and zinc exposure, overlapping directly with Teck's product mix. Its integrated trading arm makes it a particularly relevant comparable for offtake, marketing, and zinc smelting economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/TeckResources
• Facebookfacebook.com/TeckResourcesLtd
• LinkedInlinkedin.com/company/teck-resources-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries6 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments22 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Teck