Teck Resources' zinc business became less profitable in 2018 because of falling sales and declines in commodity prices, according to its annual earnings statement released on Wednesday February 13.
Last year, the Canadian miner made a gross profit before amortization and depreciation of C$1.085 billion ($817.73 million) from the zinc business, down by 7.5% year on year.The company, which operates Antamina and Red Dog zinc mines, saw its realized zinc price drop to $1.22 per lb in 2018, down by 17% from a year earlier.The lower realized prices mirrored weakness in the outright zinc price during the year. The London Metal Exchange three-month zinc price...