Trail Times file photo

Teck projects $31-million Q4 loss at Trail plant

Teck … Q4 loss of $23 million before depreciation & amortization … after tax loss of $31 million

Production slowdown and a fire in the silver refinery are a few factors Teck attributes to a fourth quarter (Q4) loss of $31 million at the Trail smelter.

“The main factor for Trail Operations results in Q4 2018 was the planned KIVCET Furnace shutdown resulting in lower production of lead, silver and other co-products,” Teck spokesperson Chris Stannell told the Trail Times.

“A maintenance shutdown of this extent typically occurs every four years,” he explained. “In addition, prices for our major metals including zinc were lower in the quarter.”

Fourth quarter silver production was hampered by an equipment fire in the refinery, Stannell added.

“Silver is currently being refined through other available equipment and repairs are expected to be complete by the end of the first quarter of 2019.”

In a Jan. 31 news release, the company projected its fourth-quarter profit would fall below what investors were expecting due to the low price Canadian oil and a decline in commodity prices as well as issues at Teck Trail.

Further, the company stated: “At our Trail Operations, we expect to record a fourth quarter loss of $23 million before depreciation and amortization and inventory write-downs, resulting in an after tax loss of $31 million or $0.05 per share. Trail continued to process low-grade lead concentrates in the fourth quarter due to ongoing interruptions of supply from some traditional third party suppliers, and production was impacted by a fire in the silver refinery and a maintenance shutdown of the KIVCET furnace that continued into the fourth quarter.”

In October, Teck reported a third quarter “profit attributable to shareholders of $1.3 billion.”

Closing the $1.2 billion Waneta Dam sale and receiving regulatory approval for the company’s Quebrada Blanca Phase 2 project were two contributing factors, according to the Oct. 24 news release.

Read more: What’s the deal with the dam?

Teck owns a 90 per cent interest in the Quebrada Blanca mine, located in the Tarapacá Region of northern Chile. The mine is an open pit operation, which leaches the ore to produce copper cathodes.

Like us on Facebook and follow us on Twitter

Just Posted

Nuclear medicine temporarily suspended at KBRH

Upgrades expected to be in service by end of September

Early morning house fire in West Trail

19 firefighters responded to structure fire on Topping Street

Greater Trail Torch Run

Greater Trail RCMP and Special Olympics team up for annual Law Enforcement Torch Run.

CWL meets at Trail Legion for dinner

48 members and one guest attended June Holy Trinity CWL meeting

Nine fires burning in West Kootenay

All fires considered to be lightning caused.

PHOTOS: Elusive ‘ghost whale’ surfaces near Campbell River

Ecotourism operator captures images of the rare white orca

Victoria mom describes finding son ‘gone’ on first day of coroners inquest into overdose death

Resulting recommendations could change handling of youth records amidst the overdose crisis

Dash-cam video in trial of accused cop killer shows man with a gun

Footage is shown at trial of Oscar Arfmann, charged with killing Const. John Davidson of Abbotsford

Suicide confirmed in case of B.C. father who’d been missing for months

2018 disappearance sparked massive search for Ben Kilmer

Eight U.S. senators write to John Horgan over B.C. mining pollution

The dispute stems from Teck Resources’ coal mines in B.C.’s Elk Valley

Threats charge against Surrey’s Jaspal Atwal stayed

Atwal, 64, was at centre of controversy in 2018 over his attendance at prime minister’s reception in India

Anti-vaxxer Robert F. Kennedy Jr. to speak in Surrey

He’s keynote speaker at Surrey Environment and Business Awards luncheon by Surrey Board of Trade Sept. 17

Otters devour 150 trout at Kootenay hatchery

The hatchery has lost close to 150 fish in the past several months

B.C. church’s Pride flag defaced for second time in 12 days

Delta’s Ladner United Church says it will continue to fly the flag for Pride month

Most Read