Teck reports surprise profit as steelmaking coal, zinc prices turn north

Canada’s largest diversified miner Teck Resources has reported a surprise profit for the three months ended March 31, reporting headline earnings attributable to shareholders of $18-million, or $0.03 a share, compared with a forecast loss of $0.03 a share. Vancouver-based Teck, the largest metallurgical coal producer in North America, said its performance during the quarter was underpinned by its cost reduction measures and maintaining production volumes, while a weaker Canadian dollar partially softened the dual blows of lower coal and copper prices.