MergerJul 23, 2026, 01:03 AM
Teck Advances Anglo American Merger; Reports Strong Q2 2026 Results
AI Summary
Teck Resources announced strong second-quarter 2026 results, with Adjusted EBITDA up 204% to $2.2 billion and adjusted profit attributable to shareholders reaching $948 million ($1.93 per share). The company also provided an update on its planned merger with Anglo American, confirming shareholder and Canadian regulatory approvals have been secured, with the transaction progressing towards its expected closing. Operational performance, particularly at Quebrada Blanca (QB) copper operations, remained stable and contributed to the robust financial performance.
Key Highlights
- Merger with Anglo American received shareholder and Canadian regulatory approvals.
- Merger expected to close within 12-18 months from September 2025 announcement.
- Q2 2026 Adjusted EBITDA rose 204% YoY to $2.2 billion.
- Adjusted profit attributable to shareholders was $948 million ($1.93/share).
- Copper production volumes increased 25% YoY to 135,900 tonnes.
- Copper net cash unit costs decreased to US$1.64/lb from US$2.02/lb.
- Liquidity stood at $10.3 billion, including $6.1 billion in cash.
Price Impact
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