Kitco News - Teck produced 296,500 tonnes of copper in 2023, below guidance forecasted at 320,000 to 365,000 tonnes.
The diversified base metals miner released its 4Q and year-end production results today.
Copper production was impacted by a slower ramp-up at QB2, as well as a localized geotechnical fault at Highland Valley Copper, said the company in a news release.
With Teck's Quebrada Blanca expansion mostly complete, copper production is ramping up.
"Total copper production in 2024 is expected to significantly increase to between 465,000 and 540,000 tonnes, compared to the 296,500 tonnes produced in 2023," wrote the company.
Teck said that QB was operating near design throughput capacity at the end of 2023, and this has continued into 2024. Recoveries have generally been in line with expectations and head grades remain within expected levels, noted Teck.
In other metals, zinc in-concentrate production of 644,000 tonnes was marginally below the low end of guidance as a result of weather-related issues in the first quarter, and equipment failures at Red Dog.
Looking ahead, Teck sees zinc output declining.
"Total zinc in concentrate production in 2024 is expected to be between 565,000 and 630,000 tonnes, compared to 644,000 tonnes in 2023. Production over the next three-year period is expected to decrease due to declining grades at Red Dog and lower zinc production at Antamina."
