At the end of February, Teck reported the company’s unaudited annual and fourth quarter results.
“We closed out 2021 by setting a number of financial performance records, including our highest-ever quarterly and annual adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) and adjusted profit attributable to shareholders,” Don Lindsay, Teck president and CEO, said in a Feb. 23 statement. “Teck’s record-setting performance was driven by the ongoing positive commodity price environment and made possible by the tremendous resilience of our people, who persevered through heatwaves, wildfires, floods, freezing temperatures and the global pandemic to continue safely and sustainably producing the essential resources the world needs.”
Trail operations
Refined zinc production of 68,200 tonnes in the fourth quarter was 11,800 tonnes lower than a year ago, primarily due to operational issues with commissioning of equipment and unplanned maintenance. Refined lead production of 22,400 tonnes in the fourth quarter was 4,600 tonnes higher than the same period last year due to a draw down of in-process inventory.
Operating costs before changes in inventory in the fourth quarter were seven per cent higher than a year ago at $138 million, primarily due to higher labour costs.
In 2022, the company expects Trail operations to produce between 270,000 and 285,000 tonnes of refined zinc. Trail has major maintenance activities planned from September to November 2022 to extend the operating life of key assets, which are expected to impact production this year.
The KIVCET furnace will have its hearth replaced and a zinc roaster will have its dome replaced, both after 25 years of operation. Refined zinc production from 2023 to 2025 is expected to be between 295,000 and 315,000 tonnes per year. Refined lead and silver production at Trail are expected to be similar to prior years but will fluctuate as a result of concentrate feed sources.
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