In the same category

VanEck Vectors Global Alternative Energy ETF

Published : October 23rd, 2008

Reports Third Quarter Results for 2008

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

Marketwire

 
 
Teck Cominco Limited
TSX: TCK.A
TSX: TCK.B
NYSE: TCK
Other Recent News

October 22, 2008
Teck Reports Third Quarter Results for 2008
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 22, 2008) - All dollar amounts expressed in this news release are in Canadian dollars unless otherwise noted.

Net earnings from continuing operations were $432 million or $0.97 per share in the third quarter of 2008. Cash flow from operations was $873 million. Don Lindsay, President and CEO, said, "The third quarter was highlighted by a significant increase in operating profits from our coal business. However, the results of our copper and zinc business units were negatively impacted by the sharp decline in commodity prices since the end of the second quarter of this year, resulting in $126 million of after-tax negative pricing adjustments in the third quarter of 2008 compared with $4 million of positive adjustments in 2007. Third quarter zinc prices were 45% lower than the third quarter of last year."

Our acquisition of Fording Canadian Coal Trust's 60% interest in Elk Valley Coal is expected to close on October 30. Mr. Lindsay said, "the fixed price nature of our coal sales contracts provide stability to our cash flow. Furthermore, in October, we entered into transactions to protect approximately 55% of our anticipated copper production to the end of March 2009 against further declines in the price of copper. These transactions result in price protection on approximately 73% of our total expected revenue for the six months to the end of March 2009, excluding the effect of exchange rate fluctuations.

Highlights and Significant Items

- Cash flow from operations was $873 million in the third quarter compared with $814 million in the third quarter of 2007 and our cash balance was $1.2 billion at September 30, 2008.

- Net earnings from continuing operations were $432 million or $0.97 per share in the third quarter compared with $495 million or $1.16 per share in the third quarter of 2007. On a year-to-date basis net earnings from continuing operations were $1.3 billion ($2.88 per share) compared with $1.4 billion or $3.19 per share in the prior year.

- Earnings before interest, taxes, depreciation and amortization (EBITDA) were $808 million in the third quarter compared with $834 million in the same period a year ago.

- In the third quarter of 2008 we entered into an agreement to acquire all of the assets of Fording Canadian Coal Trust (Fording), which consist primarily of Fording's 60% interest in the Elk Valley Coal Partnership, the world's second largest producer of seaborne hard coking coal. In aggregate, we will pay approximately US$12.4 billion in cash and issue approximately 36.9 million Class B subordinate voting shares in consideration for the Fording assets. The cash portion of the consideration will be funded primarily by US$9.81 billion fully underwritten bridge and term loan facilities with a syndicate of 25 banks and the proceeds from the sale of 29.5 million Fording units held by Teck.

On October 13, we announced that we had agreed to sell 27.6 million of these units to a Canadian chartered bank. The remaining units will be sold to an affiliate of Ontario Teachers' Pension Plan Board. Based on our current share price, the net proceeds from these two transactions is expected to be approximately US$2.4 billion.

All conditions necessary to complete the arrangement have been satisfied or waived. Subject to certain limited rights of termination under the arrangement agreement, the transaction is expected to close on October 30, 2008, at which time we will own 100% of the Elk Valley Coal Partnership.

- In October we entered into forward sales contracts for approximately 55% of our anticipated copper production to March 31, 2009 at an average price of US$2.43 per pound which, together with our fixed price coal contracts for the 2008 coal year, result in price protection on approximately 73% of our expected revenue during the six months ending March 31, 2009, excluding the effect of exchange rate fluctuations.

- Red Dog's zinc sales volumes in the quarter were slightly higher than a year ago at 184,000 tonnes, but lower than our previous guidance of 240,000 tonnes for the third quarter due to slower customer draws on delivered product and late vessel arrivals that deferred some sales from September into October.

- In September, together with our partners, we announced that preliminary results from work on our Fort Hills oil sands project suggest that the estimated capital costs have risen considerably. The partners are currently assessing the preliminary estimates and a range of options to reduce or defer capital costs. At this point the partners contemplate making an investment decision in the near term only with respect to the mining and extraction portion of the project and deferring any decision to construct the upgrader portion.

- In August, we completed our previously announced acquisition of the Relincho copper property in Chile. We paid $136 million in cash and issued 6.9 million Class B subordinate voting shares to acquire the property.

This management's discussion and analysis is dated as at October 22, 2008 and should be read in conjunction with the unaudited consolidated financial statements of Teck Cominco Limited (Teck) and the notes thereto for the nine months ended September 30, 2008 and with the audited consolidated financial statements of Teck and the notes thereto for the year ended December 31, 2007. In this news release, unless the context otherwise dictates, a reference to "the company" or "us", "we" or "our" refers to Teck and its subsidiaries. Additional information, including our annual information form and management's discussion and analysis for the year ended December 31st 2007, is available on SEDAR at www.sedar.com.

This document contains forward-looking statements. Please refer to the cautionary language under the heading "CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION" below.

Earnings and Adjusted Earnings(i)

Net earnings from continuing operations were $432 million or $0.97 per share in the third quarter. Net earnings after an $8 million loss relating to discontinued operations were $424 million, or $0.95 per share in the third quarter. Earnings included negative after-tax pricing adjustments of $126 million related to a sharp decline in copper prices. This compares with $4 million of positive price adjustments in the third quarter of 2007.

                                    Three months ended   Nine months ended
                                          September 30        September 30
(in millions of dollars)                2008      2007      2008      2007
--------------------------------------------------------------------------

Net earnings as reported            $    424  $    490  $  1,266  $  1,335
Add (deduct):
 Derivative (gains) losses,
  including discontinued
  operations                              (6)       12       (11)       44
 Asset impairment charge                   -         -        12         -
 Asset sales and other                    (9)       (1)      (21)      (11)
 Realization of cumulative
  translation adjustment loss              -        59         -        59
 Tax rate adjustments                      -         -       (11)        -
                                    --------------------------------------
Adjusted net earnings                    409       560     1,235     1,427

Negative (positive) pricing
 adjustments (note 1)                    126        (4)       59       (27)
                                    --------------------------------------
Comparative net earnings            $    535  $    556  $  1,294  $  1,400
                                    --------------------------------------

Note (1) See FINANCIAL INSTRUMENTS AND DERIVATIVES section for further
         information.
 
(i) This news release refers to adjusted net earnings and comparative net earnings, which are not measures recognized under generally accepted accounting principles (GAAP) in Canada or the United States and do not have a standardized meaning prescribed by GAAP. We adjust net earnings as reported to remove the effect of unusual and/or non-recurring transactions in these measures. These measures may differ from those used by, and may not be comparable to such measures as reported by, other issuers. We disclose these measures, which have been derived from our financial statements and applied on a consistent basis, because we believe they are of assistance in understanding the results of our operations and financial position and are meant to provide further information about our financial results to shareholders.

Business Unit Results

In the third quarter of 2008, 29% of our operating profit was from our copper business unit, 51% was from our coal business unit and 19% from the zinc business unit. In the third quarter of 2007, 44% of our operating profit was from copper, 4% was from coal and 53% from zinc.

(in millions of                         Operating profit
 dollars)                  Revenues           (loss)             EBITDA
--------------------------------------------------------------------------
                         2008     2007     2008     2007     2008     2007
--------------------------------------------------------------------------
Copper               $    522 $    622 $    200 $    394 $    246 $    389
Coal                      600      221      350       36      419       52
Zinc                      618    1,043      129      471      167      505
Gold                       60       46        8       (7)      15      (12)
Corporate                   -        -        -        -      (39)    (100)
--------------------------------------------------------------------------
Total                $  1,800 $  1,932 $    687 $    894 $    808 $    834
--------------------------------------------------------------------------
 
Operating profit from our copper business unit was $200 million in the quarter compared with $394 million in the third quarter of 2007. Our third quarter copper sales and production were higher in 2008 than in 2007, primarily due to a full quarter of results from the three mines acquired from Aur Resources in August of 2007. Average LME copper prices in the third quarter of 2008 were slightly below 2007 levels, but with copper prices declining from US$3.98 per pound on June 30 to US$2.91 per pound on September 30, operating profit was impacted by $187 million of negative copper pricing adjustments in the third quarter compared with positive pricing adjustments of $18 million in 2007.

Quarterly operating profit from our 40% interest in the Elk Valley Coal Partnership increased significantly in comparison to the third quarter of 2007 with the increase due mainly to higher coal prices. The Partnership settled prices with its major customers for the 2008 coal year at a weighted average price of US$275 per tonne compared with US$93 per tonne in 2007. Coal prices averaged US$245 per tonne in the third quarter as our realized coal price was affected by the lower prices on carry-over tonnage from the 2007 coal year. We derived an additional $45 million in equity earnings from our 12% indirect interest in the partnership held through our 20% interest in Fording. Our acquisition of the assets of Fording, which will increase our stake in Elk Valley to 100%, is scheduled to close on October 30.

Our zinc business unit's operating profit was $129 million in the quarter compared with $471 million in the third quarter of 2007 mainly as a result of average LME zinc and lead prices that were 45% and 39% lower, respectively, than in the third quarter of 2007. Operating profit included $21 million of negative pricing adjustments in the third quarter of 2008 compared with $10 million in 2007.

Our gold business unit provided an operating profit of $8 million in the quarter compared with a $7 million operating loss in the third quarter of 2007. The increase in operating profit was due to higher gold prices.

The EBITDA attributed to our corporate business unit relates to our initiatives in other commodities, our corporate growth activities and groups that provide administrative, technical, financial and other support to all of our business units. EBITDA in the third quarter of 2007 was affected by a $59 million non-cash foreign exchange translation loss recorded when funds were returned to Canada from our foreign operations to help finance our acquisition of Aur Resources.

Our year-to-date business unit results are presented in the table below.

(in millions of                         Operating profit
 dollars)                  Revenues          (loss)              EBITDA
--------------------------------------------------------------------------
                         2008     2007     2008     2007     2008     2007
--------------------------------------------------------------------------
Copper               $  2,011 $  1,642 $  1,096 $  1,119 $  1,192 $  1,112
Coal                    1,365      733      674      179      841      227
Zinc                    1,679    2,336      383      993      452    1,048
Gold                      186      122       27      (13)      34      (16)
Corporate                   -        -        -        -     (127)    (183)
--------------------------------------------------------------------------
Total                $  5,241 $  4,833 $  2,180 $  2,278 $  2,392 $  2,188
--------------------------------------------------------------------------
 
Revenues

Revenues from operations were $1.8 billion in the third quarter of 2008, $132 million lower than the comparable period in 2007. The decrease is primarily due to the decline in copper and zinc prices partially offset by higher coal prices.

Average Metal Prices and Exchange Rates(i)

                                    Three months            Nine months
                                 ended September 30     ended September 30
                                                  %                      %
                               2008    2007  Change    2008    2007  Change
--------------------------------------------------------------------------
Copper (LME
 Cash - US$/pound)             3.48    3.50     -1%    3.62    3.22    +12%
Coal (realized - US$/tonne)     245      93   +163%     183      99    +85%
Zinc (LME Cash - US$/pound)    0.80    1.46    -45%    0.95    1.56    -39%
Gold (LME PM fix -
 US$/ounce)                     869     680    +28%     898     666    +35%
Molybdenum (published
 price - US$/pound)              34      32     +6%      33      30    +10%
Lead (LME Cash - US$/pound)    0.87    1.43    -39%    1.08    1.07     +1%
US/Cdn exchange rate
 (Bank of Canada)              1.04    1.05     -1%    1.02    1.10     -7%
 
(i) The average commodity prices disclosed above are provided for information only. Our actual revenues are determined using commodity prices and other terms and conditions sspecified in our various sale contracts with our customers. The molybdenum price is the major supplier selling price published in Platts Metals Week.

Sales of metals in concentrate are recognized in revenue on a provisional pricing basis when title transfers and the rights and obligations of ownership pass to the customer, which usually occurs upon shipment. However, final pricing is typically not determined until a subsequent date, often in the following quarter. Accordingly, revenue in a quarter is based on current prices for sales occurring in the quarter and ongoing pricing adjustments from sales that are still subject to final pricing. These pricing adjustments result in additional revenues in a rising price environment and reductions to revenue in a declining price environment. The extent of the pricing adjustments also takes into account the actual price participation terms as provided in the concentrate sales agreements. In the third quarter of 2008, we had negative pricing adjustments of $208 million ($126 million after minority interests, royalties and tax) compared with $8 million ($4 million after minority interests, royalties and tax) of positive pricing adjustments in 2007. The 2008 amount is comprised of $33 million of pricing adjustments on sales from the previous quarter, and $93 million on sales that were initially recorded at the average price for the month of shipment and subsequently revalued to quarter end forward curve prices.

At June 30, 2008, outstanding receivables included 131 million pounds of copper provisionally valued at an average of US$3.91 per pound, 126 million pounds of zinc valued at an average of US$0.84 per pound and 11 million pounds of lead provisionally valued at an average of US$0.79 per pound. During the third quarter of 2008, 118 million pounds of copper included in the June 30, 2008 receivables were settled at an average final price of US$3.42 per pound, and 124 million pounds of zinc were settled at an average final price of US$0.81 per pound resulting in negative after-tax pricing adjustments of C$33 million ($56 million before tax) in the quarter. Net negative after-tax pricing adjustments on current quarter sales were C$93 million. At September 30, 2008, outstanding receivables included 157 million pounds of copper provisionally valued at an average of US$2.90 per pound, 296 million pounds of zinc valued at an average of US$0.76 per pound and 96 million pounds of lead valued at an average of US$0.83 per pound.

Cash Flow from Operations

Cash flow from operations was $873 million in the third quarter compared with $814 million in the same period last year. The increase in cash flow was primarily due to a reduction in working capital requirements as falling metal prices are reflected in lower receivable balances at the end of the quarter.

BUSINESS UNIT RESULTS

The table below shows our share of production and sales of our major commodities.

               Units
               (000's)         Production                      Sales
---------------------------------------------------------------------------
                      Third Quarter Year-to-date Third Quarter Year-to-date
                      ------------- ------------ ------------- ------------
                        2008   2007  2008   2007  2008    2007  2008   2007
----------------------------------- ------------ ------------- ------------

Principal
 products
 Copper
  contained in
  concentrate   tonnes    53     51   150    157    52      53   148    158
 Copper
  cathodes      tonnes    26     11    79     11    27      12    79     12
                      -----------------------------------------------------
                          79     62   229    168    79      65   227    170
                      -----------------------------------------------------

Metallurgical
 coal
 Direct share   tonnes 2,152  2,268 7,110  6,810 2,383   2,268 7,316  6,675
 Indirect
  share         tonnes   645    296 2,133    889   715     296 2,195    872
                      -----------------------------------------------------
                       2,797  2,564 9,243  7,699 3,098   2,564 9,511  7,547
                      -----------------------------------------------------

Refined zinc    tonnes    70     71   205    220    64      71   206    214

 Zinc
  contained in
  concentrate   tonnes   168    190   514    534   224     214   479    471
 Gold           ounces    69     67   204    200    67      68   209    190

Major
 by-products
 Molybdenum
  contained in
  concentrate   pounds 1,699  2,058 5,027  4,929 1,601   1,800 5,366  5,286

 Refined lead   tonnes    18     18    64     60    20      19    65     60

 Lead
  contained in
  concentrate   tonnes    31     39   105    107    81      94    89    103
---------------------------------------------------------------------------

(1) In August 2007, we acquired the Quebrada Blanca, Andacollo and Duck
    Pond mines as a result of our acquisition of Aur Resources Inc.
    Quebrada Blanca and Andacollo produce cathode copper. Duck Pond
    produces copper and zinc concentrates.
(2) In April 2007, our Lennard Shelf zinc mine and Pogo gold mine achieved
    commercial production. The Lennard Shelf zinc mine ceased production
    in August 2008.
(3) The direct share of coal production includes our 40% proportionate
    share of production from the Elk Valley Coal Partnership. Fording
    Canadian Coal Trust (Fording) owns the remaining 60% interest in Elk
    Valley Coal. The indirect share of coal production is the pro rata
    share of production represented by our investment in units of Fording.
    We owned approximately 9% of Fording from February 28, 2003 to
    September 27, 2007 and on September 27, 2007 increased our interest
    in Fording to 19.95%.
(4) We include 100% of production and sales from our Highland Valley
    Copper, Quebrada Blanca and Andacollo mines in our production and sales
    volumes, even though we own 97.5%, 76.5% and 90%, respectively, of
    these operations, because we fully consolidate their results in our
    financial statements. These figures include only our proportionate
    share of production and sales from Antamina, Lennard Shelf and our
    gold operations.
 
REVENUES, OPERATING PROFIT AND EBITDA

QUARTER ENDED SEPTEMBER 30

Our revenue, operating profit and EBITDA by business unit is summarized in the table below:

                                             Operating
                                            Profit (loss)        EBITDA
($ in millions)             Revenues          (note 3)          (note 4)
--------------------------------------------------------------------------
                         2008     2007     2008     2007     2008     2007
--------------------------------------------------------------------------

Copper
 Highland Valley
  Copper              $   193  $   278  $    87  $   187  $    93  $   189
 Antamina                 121      225       58      171       66      180
 Quebrada Blanca
  (note 1)                149       82       48       29       59       16
 Andacollo (note 1)        38       17       17        5       23        5
 Duck Pond (note 1)        21       20      (10)       2        -        5
 Corporate and other        -        -        -        -        5       (6)
--------------------------------------------------------------------------
                          522      622      200      394      246      389

Coal
 Elk Valley Coal          600      221      350       36      357       44
 Fording Canadian
  Coal Trust                -        -        -        -       62        8
--------------------------------------------------------------------------
                          600      221      350       36      419       52

Zinc
 Trail (including
  power sales)            317      440       37       83       50       95
 Red Dog                  317      654      105      380      129      403
 Pend Oreille               5       20       (8)       -       (6)       6
 Lennard Shelf
  (note 2)                  7       21       (6)       -       (5)       4
 Corporate and other       15       14        -        4       (2)      (7)
 Inter-segment sales      (43)    (106)       1        4        1        4
--------------------------------------------------------------------------
                          618    1,043      129      471      167      505

Gold
 Pogo (note 2)             33       19        6       (3)      15        2
 Hemlo                     27       27        2       (4)       6        3
 Corporate and
  other (note 5)            -        -        -        -       (6)     (17)
--------------------------------------------------------------------------
                           60       46        8       (7)      15      (12)

Corporate                   -        -        -        -      (39)    (100)
--------------------------------------------------------------------------

TOTAL                 $ 1,800  $ 1,932  $   687  $   894  $   808  $   834
--------------------------------------------------------------------------

(1) In August 2007, we acquired the Quebrada Blanca, Andacollo and Duck
    Pond mines as a result of our acquisition of Aur Resources Inc. Results
    from these operations are effective from August 22, 2007.
(2) Lennard Shelf and Pogo operations began commercial production starting
    April 1, 2007 and results from operations are included in earnings from
    that date. The Lennard Shelf zinc mine ceased production in August
    2008.
(3) After depreciation and amortization.
(4) EBITDA is our earnings before interest income and expense, income taxes
    and depreciation and amortization. Income taxes include the taxes in
    minority interests, equity earnings (loss), and earnings (loss) from
    discontinued operations.
(5) Corporate and other for each business unit segment includes allocated
    interest expense, exploration research and development, asset
    impairment and other income and expenses.
 
REVENUES, OPERATING PROFIT AND EBITDA

NINE MONTHS ENDED SEPTEMBER 30

Our revenue, operating profit and EBITDA by business unit is summarized in the table below:

                                             Operating
                                            Profit (loss)        EBITDA
($ in millions)             Revenues          (note 3)          (note 4)
--------------------------------------------------------------------------
                         2008     2007     2008     2007     2008     2007
--------------------------------------------------------------------------

Copper
 Highland Valley
  Copper              $   722  $   903  $   436  $   623  $   453  $   631
 Antamina                 567      620      383      460      405      485
 Quebrada Blanca
  (note 1)                510       82      212       29      215       16
 Andacollo (note 1)       126       17       59        5       72        5
 Duck Pond (note 1)        86       20        6        2       37        5
 Corporate and other        -        -        -        -       10      (30)
--------------------------------------------------------------------------
                        2,011    1,642    1,096    1,119    1,192    1,112

Coal
 Elk Valley Coal        1,365      733      674      179      700      206
 Fording Canadian
  Coal Trust                -        -        -        -      141       21
--------------------------------------------------------------------------
                        1,365      733      674      179      841      227

Zinc
 Trail (including
  power sales)          1,160    1,457      153      321      191      356
 Red Dog                  584    1,076      242      645      285      691
 Pend Oreille              35       57      (10)       -       (2)      17
 Lennard Shelf
  (note 2)                 30       27      (16)       3      (23)       8
 Corporate and other       37       36        4        7       (9)     (41)
 Inter-segment sales     (167)    (317)      10       17       10       17
--------------------------------------------------------------------------
                        1,679    2,336      383      993      452    1,048

Gold
 Pogo (note 2)             96       36       18       (3)      42        8
 Hemlo                     90       86        9      (10)      19        9
 Corporate and
  other (note 5)            -        -        -        -      (27)     (33)
--------------------------------------------------------------------------
                          186      122       27      (13)      34      (16)

Corporate                   -        -        -        -     (127)    (183)
--------------------------------------------------------------------------

TOTAL                 $ 5,241  $ 4,833  $ 2,180  $ 2,278  $ 2,392  $ 2,188
--------------------------------------------------------------------------

(1) In August 2007, we acquired the Quebrada Blanca, Andacollo and Duck
    Pond mines as a result of our acquisition of Aur Resources Inc. Results
    from these operations are effective from August 22, 2007.
(2) Lennard Shelf and Pogo operations began commercial production starting
    April 1, 2007 and results from operations are included in earnings from
    that date. The Lennard Shelf zinc mine ceased production in August 2008.
(3) After depreciation and amortization.
(4) EBITDA is our earnings before interest income and expense, income taxes
    and depreciation and amortization. Income taxes include the taxes in
    minority interests, equity earnings (loss), and earnings (loss) from
    discontinued operations.
(5) Corporate and other for each business unit segment includes allocated
    interest expense, exploration, research and development, asset
    impairment and other income and expenses.
 
COPPER

Highland Valley Copper (97%)

Operating results at the 100% level are summarized in the following table:

                                       Three months         Nine months
                                    ended September 30  ended September 30
                                        2008      2007      2008      2007
--------------------------------------------------------------------------
Tonnes milled (000's)                 11,634    11,281    33,017    30,795

Copper
 Grade (%)                              0.32      0.34      0.31      0.38
 Recovery (%)                           83.0      85.9      83.5      90.0
 Production (000's tonnes)              30.5      32.2      85.2     104.9
 Sales (000's tonnes)                   30.8      31.9      84.6     107.3

Molybdenum
 Production (million pounds)             0.9       1.0       2.6       2.8
 Sales (million pounds)                  0.9       0.8       2.7       2.8

Cost of sales ($ millions)
 Operating costs                    $     86  $     75  $    230  $    227
 Distribution costs                 $      8  $      7  $     22  $     24
 Depreciation and amortization      $     12  $      9  $     34  $     29

Operating profit ($ millions)       $     87  $    187  $    436  $    623
--------------------------------------------------------------------------
 
Highland Valley Copper's operating profit, before pricing adjustments, was $169 million in the third quarter, slightly lower than $175 million a year ago. Negative pricing adjustments of $82 million were recorded in the quarter compared with positive pricing adjustments of $12 million in the third quarter of 2007.

Copper production from Highland Valley declined by 5% to 30,500 tonnes in the third quarter compared with the same period last year. During the current phase of the mining plan, a greater proportion of ore is being mined from the lower grade Lornex pit compared with 2007. Lornex ore accounted for 51% of the mill throughput compared with 41% in the third quarter of 2007. This resulted in lower average ore grades of 0.32% in the third quarter compared with 0.34% in the same period last year. Mill recoveries were also lower in the third quarter as a high clay content in the Lornex pit reduced copper recoveries. However, this was offset by a 3% increase in mill throughput in the quarter. Mill recoveries are expected to gradually return to near historical levels by the second quarter of 2009.

Waste stripping for Highland Valley's mine life extension is continuing with the pushback of the east wall in the Valley pit progressing well despite a minor geotechnical failure in the third quarter which is currently being rectified. The pushback of the west wall necessary to extend the mine life to 2019 is scheduled to commence in early 2009 after the mine permit amendment is received. All of the mining equipment required for this work is now on site and commissioned.

Antamina (22.5%)

Operating results at the 100% level are summarized in the following table:

                                       Three months         Nine months
                                    ended September 30  ended September 30
                                        2008      2007      2008      2007
--------------------------------------------------------------------------
Tonnes milled (000's)
 Copper-only ore                       4,870     5,509    13,712    14,569
 Copper-zinc ore                       3,263     2,835     8,668     9,649
 -------------------------------------------------------------------------
                                       8,133     8,344    22,380    24,218
Copper (note 1)
 Grade (%)                              1.15      1.15      1.25      1.14
 Recovery (%)                           87.6      86.3      89.3      87.3
 Production (000's tonnes)              87.1      84.5     255.8     239.9
 Sales (000's tonnes)                   82.0      87.7     247.7     226.8

Zinc (note 1)
 Grade (%)                              3.60      3.29      3.65      2.97
 Recovery (%)                           83.6      88.8      86.1      87.2
 Production (000's tonnes)              95.8      79.4     264.8     248.7
 Sales (000's tonnes)                   92.3      88.4     252.8     249.1

Molybdenum
 Production (million pounds)             3.4       4.5      11.0       9.6
 Sales (million pounds)                  3.2       4.3      12.1      11.3

Cost of sales (US$ millions)
 Operating costs                    $    112  $    106  $    323  $    288
 Distribution costs                 $     44  $     32  $    117  $     74
 Royalties and other costs (note 2) $     28  $     20  $    160  $    123
 Depreciation and amortization      $     38  $     37  $    105  $    108

Our 22.5% share of operating profit
 ($ millions)                       $     58  $    171  $    383  $    460
--------------------------------------------------------------------------

(1) Copper ore grades and recoveries apply to all of the processed ores.
    Zinc ore grades and recoveries apply to copper-zinc ores only.
(2) In addition to royalties paid by Antamina, we also pay a royalty to the
    vendor of our interest in Antamina equivalent to 7.4% of our share of
    cash flow distributed by the mine.
 
Our 22.5% share of Antamina's operating profit, before pricing adjustments, declined to $125 million in the third quarter compared with $165 million in the same period last year. The decline in operating profit was due to significantly lower zinc prices, a 7% decrease in copper sales volumes due to timing of shipments and higher operating costs. Negative pricing adjustments in the third quarter were $67 million compared with positive pricing adjustments of $6 million in the same period a year ago.

Mitigation measures that were undertaken to lessen the effect of the main grinding mill (SAG mill) problems that arose in the fourth quarter of 2007, including reducing the speed and voltage, have been successful, with no major unplanned downtime during the quarter. Despite the reduced speed of the SAG mill, mill throughput in the third quarter was only 3% lower than the same period last year and has also improved from the first and second quarters of this year.

Copper production in the third quarter was slightly higher than a year ago at 87,100 tonnes, while zinc production increased by 21% to 95,800 tonnes due mainly to the processing of a greater amount of copper-zinc ores in the quarter compared with last year.

Antamina announced a new resource estimate in August which increased the resource by approximately 329 million tonnes. A pre-feasibility study to evaluate expansion options for Antamina is scheduled for completion in the fourth quarter of 2008. Antamina continues with pit optimization activities that are expected to shortly result in the publication of revised reserves and continues to drill the ore body in an effort to further expand the resource.

Quebrada Blanca (76.5%)

Operating results at the 100% level are summarized in the following table:

                                       Three months         Nine months
                                    ended September 30  ended September 30
                                        2008      2007      2008      2007
--------------------------------------------------------------------------
Tonnes placed (000's)
 Heap leach ore                        2,080       830     5,707       830
 Dump leach ore                        3,187       631     7,769       631
--------------------------------------------------------------------------
                                       5,267     1,461    13,476     1,461
Grade (TCu%) (note 1)
 Heap leach ore                         1.25      1.47      1.28      1.47
 Dump leach ore                         0.49      0.54      0.57      0.54

Production (000's tonnes)
 Heap leach ore                         16.2       7.0      48.2       7.0
 Dump leach ore                          5.1       2.1      15.5       2.1
--------------------------------------------------------------------------
                                        21.3       9.1      63.7       9.1

Sales (000's tonnes)                    21.4       9.7      63.4       9.7

Cost of sales (US$ million)
 Operating costs                    $     65  $     20  $    179  $     20
 Inventory adjustments (note 2)     $      4  $     28  $     37  $     28
 Distribution costs                 $      3  $      1  $      7  $      1
 Depreciation and amortization      $     26  $      4  $     70  $      4

Operating profit ($ millions)
 (note 3)                           $     48  $     29  $    212  $     29
--------------------------------------------------------------------------

(1) TCu% is the percent assayed total copper grade.
(2) Inventory adjustments consist of mark-to-market adjustments of work in
    process inventory at the time of the acquisition of the mine, which are
    being charged to earnings as the inventory is sold.
(3) Results do not include a provision for the minority interests' 23.5%
    share of Quebrada Blanca.
(4) In August 2007, we acquired the Quebrada Blanca mine as a result of our
    acquisition of Aur Resources Inc.
 
Quebrada Blanca's operating profit was $48 million in the third quarter, inclusive of negative pricing adjustments of $23 million. Copper production was slightly above expected levels at 21,300 tonnes and sales volumes were 21,400 tonnes.

An advanced scoping study for a potential Quebrada Blanca expansion project began in early June. The study is expected to be completed in the first quarter of 2009 and, if positive, be followed by a project pre-feasibility study.

Carmen de Andacollo (90%)

Operating results at the 100% level are summarized in the following table:

                                       Three months         Nine months
                                    ended September 30  ended September 30
                                        2008      2007      2008      2007
--------------------------------------------------------------------------
Tonnes placed (000's)
 Heap leach ore                          935       420     2,788       420
 Dump leach ore                          179       171       444       171
--------------------------------------------------------------------------
                                       1,114       591     3,232       591
Grade (TCu%) (note 1)
 Heap leach ore                         0.65      0.47      0.65      0.47
 Dump leach ore                         0.31      0.24      0.27      0.24

Production (000's tonnes)
 Heap leach ore                          4.2       1.5      11.9       1.5
 Dump leach ore                          1.0       0.3       3.7       0.3
 -------------------------------------------------------------------------
                                         5.2       1.8      15.6       1.8

Sales (000's tonnes)                     5.3       2.0      15.6       2.0

Cost of sales (US$ million)
 Operating costs                    $     12  $      3  $     35  $      3
 Inventory adjustments (note 2)     $      -  $      7  $      8  $      7
 Distribution costs                 $      1         -  $      2         -
 Depreciation and amortization      $      8  $      2  $     21  $      2

Operating profit ($ millions)
 (note 3)                           $     17  $      5  $     59  $      5
--------------------------------------------------------------------------

(1) TCu% is the percent assayed total copper grade.
(2) Inventory adjustments consist of mark-to-market adjustments of work in
    process inventory at the time of the acquisition of the mine, which are
    being charged to earnings as the inventory is sold.
(3) Results do not include a provision for the minority interests' 10%
    share of Andacollo.
(4) In August 2007, we acquired the Carmen de Andacollo mine as a result of
    our acquisition of Aur Resources Inc.
 
Andacollo's operating profit, after negative price adjustments of $5 million, was $17 million in the third quarter. Copper production was 5,200 tonnes in the third quarter, similar to the previous two quarters and close to expected levels.

The development of Andacollo's concentrate project is progressing according to plan with production start up scheduled for 2010. The development consists of the construction of a 55,000 tonne per day concentrator and tailings facility and is expected to produce approximately 76,000 tonnes (168 million pounds) of copper and 53,000 ounces of gold in concentrate annually over the first 10 years of the project. Detailed engineering on the project is complete. Concrete work is well advanced for the concentrator and steel erection for the mill has started. Approximately two thirds of the new 26.8 kilometre fresh water line has been laid and welded. The capital cost forecast for the project is US$410 million using a US$1 equals 535 Chilean pesos exchange rate, of which US$210 million has been spent from inception to September 30, 2008.

Duck Pond (100%)

Duck Pond incurred a $10 million operating loss in the third quarter, after recording $11 million of negative pricing adjustments. Copper and zinc production declined in the quarter to 3,100 tonnes and 4,000 tonnes respectively due to lower than planned tonnes mined which limited feed available to the mill and lower zinc grades and recoveries.

Sales volumes were higher than production volumes at 3,500 tonnes of copper and 6,900 tonnes of zinc sold in the third quarter due to the timing of shipments and inventory reduction.

New underground mining equipment has been ordered to replace some of the used equipment originally purchased for start-up which is expected to help reliability of ore supply. Ventilation improvements to the lower portion of the mine are in progress and are expected to improve both production and development productivity going forward.

Development Projects

Relincho

In August, we completed the acquisition of the Relincho copper project in Chile by way of a plan of arrangement involving Global Copper Corp., the previous owner of the project. We paid $136 million and issued 6.9 million Class B shares valued at $287 million to acquire the property.

The Relincho project is located approximately 660 kilometres north of Santiago. It consists of a large Andean style copper/molybdenum porphyry system and, based on Global Copper's published resource estimate, is expected to increase our measured and indicated copper resources by approximately 25% on a contained copper basis. Exploration and conceptual level engineering work is in progress with an objective to upgrade the inferred resource to measured and indicated categories and to update the geological model.

Petaquilla

In March 2008, we exercised our right to acquire a 26% interest in Minera Petaquilla S.A. (MPSA), the Panamanian company that holds the Petaquilla concession, by committing to participate in development work plans and budgets. We agreed with Inmet Mining Corporation (Inmet), which holds a 48% equity interest in MPSA, on an interim basis, that Inmet will act as the operator of the project and will fund 100% of project expenditures.

In the third quarter of 2008, Inmet acquired approximately 95% of the outstanding common shares of Petaquilla Copper Ltd., which owns a 26% interest in MPSA. Inmet has stated that it intends to pursue a compulsory acquisition or other means of acquiring, directly or indirectly, all of the remaining common shares of Petaquilla Copper Ltd. Inmet has also dropped the arbitration proceedings commenced by Petaquilla Copper Ltd. that sought to set aside our acquisition of the 26% equity interest in MPSA.

Under the terms of our agreement with Inmet, at the earlier of September 30, 2009 or the date on which Inmet has funded at least US$50 million in project costs, we must elect whether to continue participating in the project.

Galore Creek

At Galore Creek demobilization activities have been completed and the property is now on care and maintenance. We anticipate providing an update on the Galore Creek project upon completion of the on-going engineering studies in the fourth quarter of 2008. Detailed engineering work has looked at modified project layouts that could potentially expand overall project throughput and is focused on the potential to reduce the construction schedule and risks associated with construction execution and operations. The selection of a new design plan would be the basis for an updated feasibility study and initiation of permitting for a modified project.

COAL

Elk Valley Coal Partnership (40% direct; 52% direct and indirect)

Operating results at the 100% level are summarized in the following table:

                                       Three months         Nine months
                                    ended September 30  ended September 30
                                        2008      2007      2008      2007
--------------------------------------------------------------------------
Production (000's tonnes)              5,378     5,671    17,774    17,026

Sales (000's tonnes)                   5,957     5,669    18,290    16,687

Average sale price
 US$/tonne                          $    245  $     93  $    183  $     99
 C$/tonne                           $    252  $     97  $    187  $    110

Operating expenses (C$/tonne)
 Cost of product sold               $     61  $     42  $     51  $     43
 Transportation                     $     41  $     36  $     39  $     36
 Depreciation and amortization      $      5  $      5  $      5  $      5

Our 40% share of operating profit
 ($ millions)                       $    350  $     36  $    674  $    179
--------------------------------------------------------------------------
 
Our 40% share of Elk Valley Coal's operating profit in the third quarter increased significantly to $350 million compared with $36 million in 2007. We also recorded $45 million of equity earnings from our indirect share of the partnership held through our interest in Fording. The higher profits were due to a substantial increase in 2008 coal year contract prices, partially offset by an increase in operating costs and higher transportation costs, which are partly tied to the coal price. Realized prices averaged US$245 per tonne in the third quarter, which included some carryover of tonnage from the 2007 coal year and typical variation in product mix. Approximately 10% of third quarter sales were at 2007 coal year contract prices. Elk Valley Coal expects its fourth quarter 2008 sales to include a similar proportion of carryover tonnage and the average coal price for the 2008 calendar year to remain in the range of US$195 to US$205 per tonne, consistent with prior guidance.

Coal production in the third quarter of 2008 decreased by 5% to 5.4 million tonnes compared with the same period last year. Production at the Elkview mine was disrupted during the third quarter by a mechanical failure of the raw coal conveyor system. Full production of clean coal at Elkview is expected to resume by the end of October 2008. Third quarter results also reflect lower production levels than the second quarter due to normal seasonality resulting from planned summer maintenance shutdowns. Coal sales of 6.0 million tonnes in the third quarter were 5% higher than a year ago. For the 2008 calendar year, Elk Valley Coal's sales volumes are expected to be in the range of 23 to 25 million tonnes.

The unit cost of product sold increased to $61 per tonne compared with $42 per tonne for the third quarter of 2007. The increase resulted from a number of factors including lower production and higher repair costs attributable to the conveyor system failure at the Elkview mine of approximately $4 per tonne. A portion of these higher unit costs were related to continued overburden stripping during the conveyor system failure which should help to reduce mining costs in future periods. In addition, we implemented a new compensation program, which includes an employee profit sharing plan. Costs in this quarter in respect of this plan include approximately $2 per tonne in respect of the current quarter and $4 tonne in respect of prior quarters. Other factors contributing to the increase include higher diesel fuel costs of approximately $4 per tonne, higher stripping ratios of $2 per tonne and profit based royalties and carbon taxes, each of $1 per tonne. The unit cost of product sold is now expected to be in the range of $49 to $51 per tonne for 2008, which is up from Elk Valley Coal's previous guidance range of $46 to $48 per tonne.

Unit transportation costs increased by $5 to $41 per tonne due primarily to the coal price participation provisions contained in certain port loading contracts with Westshore Terminals. Unit transportation costs are now expected to be in the range of $40 to $42 per tonne for calendar 2008, which is down from our previous guidance range of $42 to $44 per tonne as a result of a reduction in estimated ocean freight and vessel demurrage costs.

Total costs of product sold and transportation costs for the year are now expected to be in the range of $89 to $93 per tonne compared with our previous guidance range of $88 to $92 per tonne.

As at September 30 we had forward sales contracts for US$582 million to fix our US dollar exchange rate exposure on Elk Valley Coal sales. These contracts are at an average price of C$1.02 per US$1.00, and mature at varying dates to April 2009. In addition, on completion of the Fording transaction, we will assume or settle forward sales contracts for an additional US$1.4 billion. These contracts are at an average price of C$1.01 per US$1.00 and mature at varying dates through March 2009. Coal prices for the 2008 coal year were set in the second quarter in US dollar terms. These US dollar forward sales contracts effectively fix a significant portion of our coal sales in Canadian dollar terms. As we applied hedge accounting on these contracts, mark-to-market gains and losses are deferred until realized.

ZINC

Trail (100%)

Operating results at the 100% level are summarized in the following table:

                                       Three months         Nine months
                                    ended September 30  ended September 30
                                        2008      2007      2008      2007
--------------------------------------------------------------------------
Metal production
 Zinc (000's tonnes)                    69.3      70.6     204.5     219.7
 Lead (000's tonnes)                    18.2      17.7      64.3      59.5

Metal sales
 Zinc (000's tonnes)                    64.1      71.0     205.7     213.6
 Lead (000's tonnes)                    20.2      19.4      65.1      60.3

Power
 Surplus power sold (gigawatt hours)     308       300       811       922
 Power price (US$/megawatt hour)    $     62  $     52  $     65  $     48

Cost of sales ($ millions)
 Concentrates                       $    161  $    241  $    636  $    782
 Operating costs                    $     82  $     85  $    258  $    253
 Distribution costs                 $     23  $     19  $     75  $     66
 Depreciation and amortization      $     14  $     12  $     38  $     35

Operating profit ($ millions)
 Metal operations                   $     22  $     69  $    112  $    282
 Power sales                        $     15  $     14  $     41  $     39
--------------------------------------------------------------------------
                                    $     37  $     83  $    153  $    321
--------------------------------------------------------------------------
 
Operating profit from Trail metal operations declined to $22 million in the third quarter from $69 million in the same period last year due mainly to lower zinc sales volumes and prices, and higher distribution costs. This was partially offset by strong prices for specialty metals and fertilizer products.

Operating profit from surplus power sales in the third quarter of $15 million was slightly higher than a year ago, while sales volumes were similar. Power prices remained strong in the third quarter and averaged US$62 per megawatt hour compared with US$52 per megawatt hour in the same period last year.

Refined zinc production in the third quarter decreased slightly to 69,300 tonnes as technical problems in the leaching/purification area, encountered in the second quarter, continued into part of the third quarter. These problems have now largely been resolved. Refined lead production was slightly higher than last year at 18,200 tonnes in the third quarter.

Zinc sales volumes of 64,100 tonnes in the third quarter were 10% lower than last year as some steel mill customers either reduced their zinc inventories, or were impacted by decreased demand for galvanized products. We expect similar sales levels in the fourth quarter of this year.

Upper Columbia River Basin (Lake Roosevelt)

The litigation concerning historic discharges by Teck Cominco Metals Ltd. (TCML) of smelter slag into the Upper Columbia River continued in the quarter.

Following the denial of our petition for review by the U.S. Supreme Court in January 2008, the Lake Roosevelt litigation reverted to the Federal District Court for Eastern Washington. Judgment on the first phase of the litigation dealing with issues associated with an EPA order issued in December, 2003 and withdrawn in June 2008, was delivered on September 19, 2008. All of the claims associated with the order were dismissed including the plaintiffs' claims for costs and attorneys' fees. On October 3, 2008, the plaintiffs filed a joint motion for partial reconsideration of the decision and asked that it be entered as a final judgment.

The second phase of the trial is expected to deal with liability and the plaintiffs' claims for natural resource damages and costs. This phase of the case has been deferred until the remedial investigation and feasibility study being conducted by TCML's affiliate Teck Cominco American Incorporated under agreement with the EPA (the Agreement) have been substantially advanced or completed. Until such studies have been completed it is not possible to estimate the amount of the damages, if any, that the plaintiffs have sustained or may claim.

There can be no assurance that TCML will ultimately be successful in its defense of the litigation or that TCML or its affiliates will not be faced with further liability in relation to this matter. Until the studies contemplated by the Agreement and additional damage assessments are completed, it is not possible to estimate the extent and cost, if any, of remediation or restoration that may be required or to assess the company's potential liability for damages. The studies may conclude, on the basis of risk, cost, technical feasibility or other grounds, that no remediation should be undertaken. If remediation is required and damage to resources found, the cost of remediation and/or the damage assessment may be material.

Red Dog (100%)

Operating results at the 100% level are summarized in the following table:

                                       Three months         Nine months
                                    ended September 30  ended September 30
                                        2008      2007      2008      2007
--------------------------------------------------------------------------
Tonnes milled (000's)                    784       884     2,308     2,571

Zinc
 Grade (%)                              19.9      20.5      20.5      20.2
 Recovery (%)                           84.9      85.2      84.5      84.9
 Production (000's tonnes)             131.5     154.4     400.0     441.1
 Sales (000's tonnes)                  184.0     177.8     363.7     383.8

Lead
 Grade (%)                               5.7       6.2       6.4       6.0
 Recovery (%)                           65.7      65.6      65.4      65.1
 Production (000's tonnes)              29.2      36.0      96.5     100.1
 Sales (000's tonnes)                   77.4      91.3      80.2      98.0

Cost of sales (US$ millions)
 Operating costs                    $     80  $     75  $    125  $    133
 Distribution costs                 $     47  $     36  $     79  $     67
 Royalties (NANA and State)         $     54  $    127  $     89  $    155
 Depreciation and amortization      $     24  $     22  $     43  $     42

Operating profit ($ millions)       $    105  $    380  $    242  $    645
--------------------------------------------------------------------------
 
Red Dog's operating profit, before pricing adjustments, declined to $124 million in the third quarter compared with $390 million in the same period last year. The decline in operating profit was due to significantly lower zinc and lead prices. Negative pricing adjustments of $19 million were recorded in the third quarter compared with $10 million in the third quarter of 2007.

Zinc production in the third quarter decreased by 15% to 131,500 tonnes compared with the same period last year due to reduced throughput as a result of unscheduled maintenance shutdowns for mill liner replacements.

Zinc sales volumes in the third quarter were 184,000 tonnes, slightly higher than a year ago. The reduction from our previous guidance of 240,000 tonnes for the third quarter is due to slower customer draws on delivered product and late vessel arrivals that deferred some sales from September into October.

Red Dog's 2008 shipping season began on July 11, 2008 and is expected to be completed on October 28, 2008 with a total of 954,000 tonnes of zinc concentrate and 249,000 tonnes of lead concentrate expected to be shipped from the mine. Metals in concentrate available for sale from October 1, 2008 to the beginning of next year's shipping season are expected to be approximately 405,000 tonnes of zinc in concentrate and 58,000 tonnes of lead in concentrate. Zinc and lead sales volumes in the fourth quarter are estimated to be approximately 179,000 tonnes and 58,000 tonnes of metal in concentrate respectively.

We continue to work towards the approval of a Supplemental Environmental Impact Statement (SEIS) for the Aqqaluk deposit, the next ore body scheduled to be developed by Red Dog. The mine's effluent discharge permit will be renewed in conjunction with the SEIS. In the interim, we are working with NANA and the EPA to ensure that the mine can discharge sufficient water to maintain a reasonable water balance in the tailings impoundment under its existing water discharge permit.

During the second quarter, we entered into a settlement with the plaintiffs from the Village of Kivalina who had filed a complaint alleging violations of the Clean Water Act relating to discharge limits set by the mine's current permit. A consent decree has been filed with the Court. The decree is subject to review by the EPA and Department of Justice and the approval of the Court. Under the terms of the decree, we have committed to design, and, if we receive all requisite permits, construct and operate a water discharge pipeline from the mine to the sea. We have also agreed to fund certain community initiatives and to pay fines and penalties if we exceed agreed-upon Total Dissolved Solids (TDS) limits in our discharge to the river systems until the pipeline is operational. The mine has implemented additional treatment measures to reduce TDS and increase discharge. As a result of those measures and a return to normal seasonal flows in Red Dog Creek, water discharge was in balance with annual inputs. The construction of the pipeline is a necessary capital expenditure to ensure the long-term viability of the mine and is viewed by management as a sustaining capital expenditure.

Other Zinc Mines

Our 100% owned Pend Oreille mine, which is an important supplier of low cost concentrate with favourable processing characteristics to our Trail operations, incurred an operating loss of $8 million in the third quarter compared with breaking even in the third quarter of 2007. The operating loss was the result of lower zinc prices. Zinc production was 7,500 tonnes in the third quarter compared with 7,300 tonnes in the same period last year.

On July 14, 2008, together with our partner Xstrata Zinc, we announced the closure of the Pillara zinc mine at Lennard Shelf in Western Australia. Operations ceased in early August. We wrote-down the mine assets by $12 million in the second quarter.

GOLD

Pogo (40%)

Operating results at the 100% level are summarized in the following table:

                                       Three months         Nine months
                                    ended September 30  ended September 30
                                        2008      2007      2008      2007
--------------------------------------------------------------------------
Tonnes milled (000's)                    179       170       555       467
Grade (grams/tonne)                     17.9      13.0      16.8      14.3
Mill recovery (%)                       85.0      81.2      84.8      83.1
Production (000's ounces)                 91        58       258       179
Sales (000's ounces)                      92        67       264       158
Cash operating cost per ounce (US$) $    493  $    554  $    514       n/a
Our 40% share of operating profit
 ($ millions)                       $      6  $     (3) $     18  $     (3)
--------------------------------------------------------------------------
(1) Operating results prior to April 1, 2007, the date the operation
    achieved commercial production, were capitalized as start-up costs.
 
Operating performance at our Pogo mine continued to improve in the third quarter and we achieved our best recorded quarterly production since commissioning of the mine at 91,000 ounces. Ore grades in the third quarter were slightly higher than life of mine averages at 17.9 grams per tonne, compared with 13.0 grams per tonne last year when we were mining lower grade stopes.

Gold sales of 92,000 ounces in the third quarter were similar to production levels and the average realized gold price was US$872 per ounce. Our 40% share of Pogo's operating profit was $6 million in the third quarter compared with a $3 million operating loss last year due mainly to higher gold prices and improved production levels.

The mine's expected gold production for 2008 remains unchanged from previous guidance at 340,000 ounces, of which our share is 40%.

Hemlo Mines (50%)

Operating results at the 100% level are summarized in the following table:

                                       Three months         Nine months
                                    ended September 30  ended September 30
                                        2008      2007      2008      2007
--------------------------------------------------------------------------

Tonnes milled (000's)                    665       769     2,016     2,223
Grade (grams/tonne)                      2.9       3.4       3.0       3.5
Mill recovery (%)                       95.4      94.3      94.5      93.9
Production (000's ounces)                 59        80       186       238
Sales (000's ounces)                      57        75       193       234
Cash operating cost per ounce (US$) $    715  $    600  $    700  $    583
Our 50% share of operating profit
 (loss) ($ millions)                $      2  $     (4) $      9  $    (10)
--------------------------------------------------------------------------
 
Hemlo's gold production of 59,000 ounces in the third quarter was consistent with the current mining plan, but represents a decrease of 26% compared with the same period last year. Most high grade sections of the mine have now been depleted, and a greater percentage of mill feed will now come from the lower grade open pit.

Gold sales of 57,000 ounces in the third quarter were at an average realized price of US$869 per ounce compared with 75,000 ounces and a realized price of US$674 per ounce in the same period last year.

Cost cutting measures in late 2007 have now stabilized and these helped to reduce total operating costs by 17% in the third quarter compared with the same period last year. However, due to the lower production levels, cash unit operating costs increased to US$715 per ounce compared with US$600 per ounce in the third quarter of 2007.

Hemlo's operating profit was $2 million in the third quarter compared with an operating loss of $4 million last year due mainly to the higher gold price.

Expected gold production for 2008 remains unchanged from previous guidance at approximately 250,000 ounces, of which our share is 50%.

ENERGY

Fort Hills Project

At our Fort Hills oil sands project in Alberta, work continues on the Front End Engineering and Design (FEED) stage of project development. The project, as currently conceived, consists of an integrated oil sands mine and bitumen extraction plant 90 kilometers north of Fort McMurray, Alberta and an upgrader northeast of Edmonton, Alberta.

In September, together with our partners in the Fort Hills project, we announced that preliminary results from the FEED work suggest that the estimated capital costs for the first phase of the mine and upgrader portions of the project as currently conceived have increased in the range of 50% from the estimate of $18.8 billion (including third party costs) announced by the partners in June 2007.

The partners are reviewing the preliminary estimates and are assessing various options for development of the project, including the phasing of various aspects of the project, with selected options to be reflected in the final FEED report. Once the FEED work is complete, Fort Hills will develop a definitive cost estimate for the selected development option, which will be the basis for the final investment decision by the project partners. At this point the partners contemplate making an investment decision in the near term only with respect to the mining and extraction portion of the project and deferring any decision to construct the upgrader portion, which would substantially reduce project costs prior to first oil.

Proceeding with the project is also subject to certain regulatory approvals being received. Fort Hills is working with the regulators and various stakeholders to obtain the necessary approvals, which are expected in the fourth quarter.

Frontier and Equinox Projects

The Teck/UTS Joint Venture completed 353 core holes in the first quarter of 2008, of which 325 holes were in the Frontier Project area. Full assay and test results from that program will be available in the fourth quarter. A contingent resource will be prepared for the southern segment of the Frontier Project in the fourth quarter.

Engineering studies continue on the Equinox Project, which will include running a 1,500 tonne bulk sample through a pilot plant in the second half of 2008 to develop process design parameters for both the Equinox and Frontier Projects. A Design Basis Memorandum (DBM) study is expected to be completed on Equinox in the first quarter of 2009. The joint venture continues to advance the project through the permitting process. Engineering studies are expected to start on the Frontier Project in 2009.

Regulatory Developments

In January of 2008, the government of Alberta announced a plan to reduce carbon emissions to 14% below 2005 levels by 2050 and major emitters are required to reduce emission intensity at a rate of 12% per year. For new construction projects, the plan is applicable three years after start up. We are reviewing the effect of this legislation on our oil sands projects.

COSTS AND EXPENSES

Administration and general expenses were $15 million in the third quarter, $18 million less than the same period last year. The decrease is due to a decline in our share price, which resulted in a reduction of our stock based compensation expense.

Interest expense was $17 million in the third quarter compared with $21 million a year earlier. The decrease was due to capitalization of interest related to our Fort Hills project.

Other income, net of other expenses, was $25 million in the quarter compared with $19 million of other expenses in the same period last year. The most significant component were mark-to-market gains on our zinc forward sales contracts, which were assumed on the acquisition of Aur Resources.

Income and resource taxes for the quarter were $233 million, or 37% of pre-tax earnings, which is higher than the Canadian statutory tax rate. This is primarily the result of the effect of mining taxes in Canada.

Minority interest expense was $23 million in the third quarter compared with $18 million last year, with the increase due to our acquisition of Quebrada Blanca and Andacollo as part of our purchase of Aur Resources in August, 2007. Third parties hold 23.5% and 10% of each property respectively.

Equity earnings

We recorded equity earnings of $58 million in the third quarter, of which $45 million was from our investment in the Fording Canadian Coal Trust compared with $5 million recorded in the same period last year. Higher earnings from the Trust were due to significantly higher coal prices and our increased interest in the Trust, which rose to 19.95% from 8.7% in September, 2007.

Discontinued operations

Our earnings from discontinued operations relate to a price participation provision in the agreement to sell the Cajamarquilla zinc refinery in 2004. We are entitled to additional consideration of US$365,000 for each US$0.01 by which the average annual price of zinc exceeds US$0.454 per pound. This zinc price participation expires at the end of 2009. Accordingly, we have recorded a receivable for outstanding amounts due under this agreement, which is valued based on the zinc forward price curve in effect at the end of each quarter. In the third quarter of 2008, the Canadian dollar zinc price decreased resulting in a $10 million ($8 million after-tax) mark-to-market decrease in the receivable, compared with a $6 million ($5 million after-tax) decrease in the receivable in the third quarter of 2007.

FINANCIAL POSITION AND LIQUIDITY

Cash flow from operations was $873 million in the third quarter compared with $814 million in the same period last year. The increase in cash flow occurred due to a reduction in working capital requirements as falling metal prices are reflected in lower receivable balances at the end of the quarter.

Expenditures on property, plant and equipment were $377 million in the third quarter and included $125 million on sustaining capital and $252 million on development projects. The largest components of sustaining expenditures were at Elk Valley Coal, Antamina and Red Dog for equipment upgrades. Development expenditures included $40 million for preparatory stripping and capital equipment for Highland Valley Copper's mine life extension project and $65 million on the development of the hypogene deposit at Andacollo. In addition, we acquired the Relincho copper project in Chile for a cash payment of $136 million and the issuance of 6.9 million Class B subordinate voting shares valued at $287 million. Investments in the third quarter totalled $145 million and included $112 million of funding for the Fort Hills oil sands project and $33 million for other investments.

In September we repaid $67 million of debt that we assumed as part of the Aur Resources acquisition.

Our cash position increased by $85 million to $1.2 billion as of September 30, 2008. Long-term debt totalled $1.5 billion at September 30, 2008 and we had bank credit facilities aggregating $1.3 billion, 84% of which mature in 2012 and beyond. Our unused credit lines under these facilities after draw downs and letters of credit amounted to $1.0 billion. Our senior unsecured debt is rated Baa1 by Moody's Investor Services, BBB by Standard and Poor's and BBB (high) by Dominion Bond Rating Service.

In addition to our operating lines of credit as at September 30, as outlined above, we have arranged for a total of US$9.8 billion in financing to be provided by a consortium of 25 banks to satisfy the cash portion of the Fording acquisition. The acquisition financing includes a US$4 billion three-year amortizing senior term loan facility, which is payable in 11 equal quarterly instalments beginning in April 2009, and a US$5.81 billion senior bridge loan facility, which matures 364 days from drawdown, which is expected to occur on October 29, 2008.

COMPREHENSIVE INCOME

We recorded comprehensive income of $356 million in the third quarter, comprising $424 million of regular earnings and $68 million of other comprehensive loss. The most significant components of other comprehensive loss in the quarter are unrealized mark-to-market losses of $224 million on our portfolio of marketable securities. The value of our marketable securities suffered declines due to equity market conditions. These securities consist primarily of investments in publicly traded companies with whom we partner in exploration or development projects. Currency translation adjustments of $232 million were recorded on the revaluation of our investments in self-sustaining foreign subsidiaries due to the strengthening of the US dollar. These were partially offset by losses on US$ denominated debt designated as a hedge of these subsidiaries of $52 million, for a net currency translation gain of $180 million. All of these gains and losses are held in Accumulated Other Comprehensive Income, net of taxes until they are realized, at which time they are included in net earnings.

OUTLOOK

The information below is in addition to the disclosure concerning specific operations included above in the Operations and Corporate Development sections of this Management's Discussion and Analysis.

General Economic Conditions

Current problems in credit markets and deteriorating global economic conditions have lead to a significant weakening of exchange traded commodity prices in recent weeks, including base metal prices. Volatility in these markets has also been unusually high. It is difficult in these conditions to forecast metal prices and customer demand for our products. Credit market conditions have also increased the cost of obtaining capital and limited the availability of funds. Accordingly, management is reviewing the effects of the current conditions on our business. Our fourth quarter earnings are expected to be impacted by significant negative pricing adjustments, if base metal prices remain at current levels, and an increase in our financing costs assuming our acquisition of Fording's assets closes on October 30 as expected and, because of the application of accounting rules related to the valuation of inventories from acquisitions, our earnings are expected to include only one month of operating profit from the assets acquired from Fording. This last item has no impact on our cash flow. Further detail on each of these issues is provided below.

Acquisition of Elk Valley Coal Partnership (EVCP)

In the third quarter of 2008 we entered into an arrangement to acquire all of the assets of Fording Canadian Coal Trust, which consists primarily of Fording's 60% interest in the Elk Valley Coal Partnership. In aggregate, we will pay approximately US$12.4 billion in cash and issue approximately 36.9 million Class B subordinate voting shares in consideration for the Fording assets.

The cash portion of the consideration will be funded primarily from a US$9.81 billion fully underwritten bridge and term loan facility with a syndicate of banks and approximately US$2.4 billion of proceeds from the sale of 29.5 million Fording units held by Teck. The bridge loan is US$5.81 billion bears interest at LIBOR plus 1.5% and is due 364 days after it is drawn. The term loan of US$4 billion bears interest at LIBOR plus 1.5% (subject to adjustments based on changes in our credit rating) and is repayable in 11 equal quarterly instalments beginning on April 30, 2009. Our primary objective is to reduce these debt balances include a cash tax refund of approximately $1 billion expected in the first half of 2009, potential asset sales and cash on hand at the time of the transaction. We also intend to access longer term debt financing as bond market conditions permit. As a result, we expect to pay down a substantial portion of the acquisition debt in the near term. This expectation is based primarily on our belief that Elk Valley's projected revenues and cash flows through March, 2009 are dependable based on existing sales volumes and prices, the combination of normal carry-over volumes into the April-June quarter of 2009 and current price forecasts for the 2009 coal year. Before tax operating cash flow from our coal business unit over a one year period would be in the range of $3 billion dollars if the average realized price were to be US$200 per tonne, and close to $6 billion if the average realized price were US$300 per tonne. This assumes that we produce and sell 25 million tonnes per year, total cash costs of approximately C$96 per tonne, slightly higher than our current guidance, an exchange rate of C$1.10 to US$1 and does not take into account sustaining capital spending.

All conditions necessary to complete the arrangement have been satisfied or waived and, subject to certain limited termination rights, closing for the transaction is expected to occur on October 30, 2008. The termination rights include the right to terminate by mutual consent, the right of Teck to terminate in the event the amount of residual liabilities of Fording (net of current assets) exceeds certain agreed levels either as a result of a wilful violation of the arrangement agreement by Fording or in circumstances where exceeding such levels would constitute a material adverse change (as defined in the arrangement agreement), the right of either party to terminate if the closing of the arrangement does not occur on or before December 30, 2008 and the right of either party to terminate if governmental or regulatory action prohibits the transaction, makes the transaction illegal or materially and adversely change the anticipated tax treatment of the transaction.

The acquisition of Fording's assets is expected to add substantially and immediately to our operating profits and cash flows. The transaction will increase our interest in the partnership to 100%, which this year is expected to produce between 23 and 25 million tonnes of metallurgical coal, in 2008. Prior to the transaction, we held a 40% direct interest in the partnership and a further 12% indirect interest as a result of our investment in Fording.

The effective date of the Fording transaction is expected to be October 30, 2008 and we will begin fully consolidating the results of the acquired assets from that date. Upon acquisition, we are required to value production inventories at their fair market values and these fair value adjustments will reduce our recorded operating profits, but not our cash flows, until the inventories are sold, a period expected to be approximately one month. Accordingly, our earnings in the fourth quarter should effectively include only one month of full operating profit from the acquired assets but two months of interest on the debt incurred to acquire the assets.

As a result of the Fording transaction our earnings will be more sensitive to changes in the coal price and changes in the Canadian/US dollar exchange rate. Based on 2008 calendar year average coal prices, post-acquisition rates of production, current coal prices and current exchange rates, a 1% increase/decrease in the coal price would increase/decrease our 2009 earnings by approximately $42 million. Based on prices and the exchange rate prevailing at September 30, 2008 and our current rate of production, post-Fording acquisition, a 1% weakening/strengthening of the Canadian dollar against the US dollar would increase/decrease 2009 earnings by approximately $50 million, after taking into account our US$ forward sales contracts

Elk Valley Coal's sales contracts have been settled for the 2008 coal year, which is from April 1, 2008 to March 31, 2009, and are recorded at an average price of US$275 per tonne. This is a weighted average price for all ranges of coal products including metallurgical, thermal and PCI coal and the impact of certain multi-year contracts. With carry over tonnage from the 2007 coal year, the average coal price for the 2008 calendar year is expected to remain in the range of US$195 to US$205 per tonne.

Fourth quarter production and sales for Elk Valley Coal will be impacted by the ongoing production problems at the Elkview mine, which are expected to be resolved by the end of October 2008. In the absence of any further significant disruptions of production or rail transportation problems, Elk Valley Coal still expects its sales volumes to be within its previous guidance range of 23 to 25 million tonnes for calendar 2008. Inventories of clean coal at the mine sites and the Vancouver ports were low at quarter end and Elk Valley Coal is dependent on rail service in order to deliver its product. The low inventory levels increase Elk Valley Coal's exposure to possible rail transportation problems or further disruptions of production during the fourth quarter.

Exchange rates

In addition to the exchange rate sensitivities noted above, our US dollar denominated debt will be subject to revaluation based on changes in the Canadian/US dollar exchange rate. Initially, we intend to designate approximately one half of our US$ denominated debt as a hedge of our US$ denominated foreign operations. As a result, approximately 50% of any foreign exchange gains or losses arising on these loans will be recorded in net earnings with the remainder in Other Comprehensive Income. The earnings impact of these revaluations will be reduced as we pay down the debt. Exchange rate fluctuations will also affect our debt to equity ratio and interest charges.

Base metals prices

Base metal prices have been subject to significant volatility in September and October of this year. In order to protect against further price declines we have entered into forward sales agreements with major financial institutions to effectively fix the sales prices in respect of approximately 80% of our anticipated copper production to the end of March, 2009. As a result of these transactions, we have price protection in relation to approximately 73% of our total anticipated revenues for the six month period (based on our anticipated product sales volumes and commodity price assumptions for products other than coal and copper). This figure assumes closing of the Fording transaction on October 30, 2008 and thus includes 100% of Elk Valley's coal production from that date, all of which is committed under fixed price contracts which run through March 31, 2009. These measures are designed to provide revenue certainty and cash flow predictability during the period.

At September 30, 2008, outstanding receivables included 157 million pounds of copper provisionally valued at an average of US$2.90 per pound, 296 million pounds of zinc valued at an average of US$0.76 per pound and 96 million pounds of lead provisionally valued at an average of US$0.83 per pound. Final price adjustments on these outstanding receivables will increase or decrease our revenue in subsequent quarters depending on metal prices at the time final values are determined.

Capital Expenditures

Our 2008 capital expenditures are expected to be approximately $1.1 billion, including $430 million of sustaining capital expenditures, $600 million on development projects and $50 million on our share of the various oil sands properties outside of Fort Hills that we jointly own with UTS Energy Corporation. The increase from our prior sustaining capital estimate is due to our anticipated increased ownership in Elk Valley Coal. Our development expenditures estimate of approximately $600 million includes $220 million for Andacollo's hypogene project, $175 million for Highland Valley's mine expansion and $140 million on the Relincho copper property. We also expect to spend approximately $500 million on our share of costs for the Fort Hills oil sands project and $20 million in engineering studies for the Galore Creek project. We are reviewing our discretionary capital spending in light of current market conditions and our debt reduction targets.

Other information

The government of British Columbia introduced legislation to implement a carbon tax on virtually all fossil fuels effective July 1, 2008. The tax is imposed on fossil fuels used in BC and is based on a $10 per tonne of CO2-emission equivalent, increasing by $5 per tonne each year until it reaches $30 per tonne in 2012. Based on our recent historical fuel use figures, we expect to pay carbon tax of approximately $5 million for 2008, increasing to approximately $26 million per year by 2012. Our expected carbon tax cost is primarily the result of our use of coal, diesel fuel and natural gas.

The BC government has also expressed its intention to implement a cap and trade mechanism to further reduce greenhouse gas emissions. However, it has indicated that the carbon tax and the cap and trade system will be integrated to avoid double taxation. We will monitor this issue as legislation is developed.

ADOPTION OF NEW ACCOUNTING STANDARDS

Inventories, Section 3031

Effective January 1, 2008, we adopted the new Canadian Institute of Chartered Accountants (CICA) handbook Section 3031, "Inventories". This section replaces the existing Section 3030 and establishes more prescriptive standards for the measurement and disclosure of inventories. The adoption of this standard did not have an impact on our financial statements.

International Financial Reporting Standards (IFRS) changeover plan

In 2008, the Canadian Accounting Standards Board announced that January 1, 2011 will be the changeover date for Canadian publically accountable enterprises to report their financial results using IFRS.

We continue to make progress with our IFRS changeover plan. We engaged third party consultants who completed a high-level preliminary assessment, which prioritizes how each IFRS standard will impact our financial statements, systems and business activities. Our technical implementation team is currently focusing their efforts on the higher impact areas and has continued with ongoing training sessions provided by external advisors. We are also continuing to assess the impact of the conversion on our business activities, including the effect on information technology and data systems, internal controls over financial reporting and disclosure controls.

We anticipate that there will be changes in accounting policies and these changes may materially impact our financial statements.

FINANCIAL INSTRUMENTS AND DERIVATIVES

We hold a number of financial instruments and derivatives, the most significant of which are marketable securities, foreign exchange forward sales contracts, fixed price forward metal sales contracts, settlements receivable and price participation payments on the sale of the Cajamarquilla zinc refinery. The Cajamarquilla price participation payments are economically similar to a fixed price forward purchase of zinc. The financial instruments and derivatives are all recorded at fair values on our balance sheet with gains and losses in each period included in other comprehensive income, net earnings from continuing operations and net earnings from discontinued operations as appropriate. Some of our gains and losses on metal-related financial instruments are affected by smelter price participation and are taken into account in determining royalties and other expenses. All are subject to varying rates of taxation depending on their nature and jurisdiction.

The after-tax effect of financial instruments on our net earnings for the following periods is set out in the table below:

                                   Three months             Nine months
                                ended September 30      ended September 30
                                 2008         2007        2008        2007
--------------------------------------------------------------------------

Price adjustments
 On prior quarter sales   $       (33)  $        8  $       15  $       (5)
 On current quarter sales         (93)          (4)        (74)         32
 -------------------------------------------------------------------------
                                 (126)           4         (59)         27

Other financial instruments
 Derivatives gains (losses)        14           (7)         24         (14)
 Cajamarquilla sale price
  participation
  (discontinued operations)        (8)          (5)        (13)        (30)
 -------------------------------------------------------------------------

Total                     $      (120)  $       (8) $      (48) $      (17)
--------------------------------------------------------------------------
 
On acquisition of the Fording assets, we will either assume or settle forward sales contracts on US$1.4 billion entered into by Fording at an average price of C$1.01 equals US$1.00 In October, we also entered into forward sales contracts for 166 million pounds of copper at an average price of US$2.43 per pound maturing at varying dates to the end of March 2009.

QUARTERLY EARNINGS AND CASH FLOW

(in millions, except
 for share data)               2008                      2007
---------------------------------------------------------------------------
                         Q3      Q2      Q1      Q4      Q3      Q2      Q1

Revenues            $ 1,800 $ 1,870 $ 1,571 $ 1,538 $ 1,932 $ 1,561 $ 1,340

Operating profit        687     879     614     460     894     764     620

EBITDA                  808     951     633     427     834     770     584

Net earnings            424     497     345     280     490     485     360

Earnings per share  $  0.95 $  1.12 $  0.78 $  0.64 $  1.15 $  1.14 $  0.83

Cash flow from
 operations             873     500     161     560     814     193     152
---------------------------------------------------------------------------
 
OUTSTANDING SHARE DATA

As at October 20, 2008 there were 440,034,195 Class B subordinate voting shares and 9,353,470 Class A common shares outstanding. In addition, there were 4,704,713 director and employee stock options outstanding with exercise prices ranging between $3.20 and $49.17 per share. More information on these instruments and the terms of their conversion is set out in Note 16 of our 2007 year end financial statements.

INTERNAL CONTROL OVER FINANCIAL REPORTING

Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Any system of internal control over financial reporting, no matter how well designed, has inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. There have been no changes in our internal control over financial reporting during the quarter ended September 30, 2008 that have materially affected, or are reasonably likely to materially affect, internal control over financial reporting.

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

This document contains certain forward-looking information. This forward-looking information, principally under the heading "Outlook", but also elsewhere in this document, includes estimates, forecasts, and statements as to management's expectations with respect to, among other things, our earnings and cash flow in the fourth quarter of 2008 and beyond, the financial and accounting consequences of our proposed acquisition of the assets of Fording Canadian Coal Trust, the sensitivity of our earnings to changes in commodity prices and exchange rates, the potential impact of transportation and other potential production disruptions, the impact of commodity and currency hedging, our debt reduction objectives and potential sources of funds, our intention to refinance a portion of our Fording acquisition debt, future trends for the company, progress in development of mineral properties, future production and sales volumes, capital expenditures and mine production costs, demand and market outlook for commodities, future commodity prices and treatment and refining charges, the settlement of coal contracts with customers, the outcome of legal proceedings involving the company and the impact of carbon taxation on the company. This forward-looking information involves numerous assumptions, risks and uncertainties and actual results may vary materially.

Factors that may cause actual results to vary materially include, but are not limited to, changes in commodity and power prices, changes in interest and currency exchange rates, acts of foreign governments and the outcome of legal proceedings, inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources), unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, adverse weather conditions and unanticipated events related to health, safety and environmental matters), political risk, social unrest, failure of customers or counterparties to perform their contractual obligations, and changes or further deterioration in general economic conditions or continuation of current severe disruptions in credit and financial markets.

Statements concerning future production costs or volumes, and the sensitivity of the company's earnings to changes in commodity prices and exchange rates are based on numerous assumptions of management regarding operating matters and on assumptions, that demand for products develops as anticipated, that customers and other counterparties perform their contractual obligations, that operating and capital plans will not be disrupted by issues such as mechanical failure, unavailability of parts and supplies, labour disturbances, interruption in transportation or utilities, adverse weather conditions, and that there are no material unanticipated variations in the cost of energy or supplies. We assume no obligation to update forward-looking statements except as required under securities laws. Further information concerning risks and uncertainties associated with these forward looking statements and our business can be found in our Annual Information Form for the year ended December 31st 2007, filed on SEDAR and on EDGAR under cover of Form 40F.

WEBCAST

Teck will host an Investor Conference Call to discuss its Q3/2008 financial results on Thursday, October 23, 2008 at 11 AM Eastern/8 AM Pacific time. A live audio webcast of the conference call, together with supporting presentation slides, will be available at the company's website at www.teck.com. The webcast is also available at www.earnings.com. The webcast will be archived at www.teck.com.

Teck Cominco Limited
Consolidated Statements of Earnings
(Unaudited)

--------------------------------------------------------------------------
                                    Three months            Nine months
(Cdn $ in millions, except      ended September 30      ended September 30
 for share data)                 2008         2007        2008        2007
--------------------------------------------------------------------------

Revenues                  $     1,800   $    1,932  $    5,241  $    4,833

Operating expenses               (983)        (945)     (2,718)     (2,330)

Depreciation and
 amortization                    (130)         (93)       (343)       (225)
--------------------------------------------------------------------------

Operating profit                  687          894       2,180       2,278

Other expenses
 General and administration       (15)         (33)        (85)        (89)
 Interest on long-term debt       (17)         (21)        (54)        (64)
 Exploration                      (44)         (34)        (90)        (79)
 Research and development          (6)          (7)        (22)        (21)
 Asset impairment charge
  (Note 5)                          -            -         (12)          -
 Other income (expense)
  (Note 9)                         25          (19)         58          88
--------------------------------------------------------------------------

Earnings before the
 undernoted items                 630          780       1,975       2,113

Provision for income and
 resource taxes                  (233)        (272)       (736)       (734)

Minority interests                (23)         (18)        (82)        (28)

Equity earnings                    58            5         122          14
--------------------------------------------------------------------------

Net earnings from
 continuing operations            432          495       1,279       1,365

Net loss from
 discontinued operations           (8)          (5)        (13)        (30)
--------------------------------------------------------------------------

Net earnings              $       424   $      490  $    1,266  $    1,335
--------------------------------------------------------------------------

Earnings per share
 Basic                    $      0.95   $     1.15  $     2.85  $     3.12
 Basic from
  continuing operations   $      0.97   $     1.16  $     2.88  $     3.19
 Diluted                  $      0.95   $     1.14  $     2.84  $     3.10
 Diluted from
  continuing operations   $      0.96   $     1.15  $     2.87  $     3.17

Weighted average shares
 outstanding (millions)         447.0        428.0       443.8       428.0

Shares outstanding at end
 of period (millions)           449.4        441.8       449.4       441.8
--------------------------------------------------------------------------

The accompanying notes are an integral part of these financial statements.


Teck Cominco Limited
Consolidated Statements of Cash Flows
(Unaudited)

--------------------------------------------------------------------------
                                    Three months            Nine months
                                ended September 30      ended September 30
(Cdn $ in millions)              2008         2007        2008        2007
--------------------------------------------------------------------------

Operating activities
 Net earnings from
  continuing operations    $      432   $      495  $    1,279  $    1,365
 Items not affecting cash
  Depreciation and
   amortization                   130           93         343         225
  Future income and
   resource taxes                  88           (9)        205          (2)
  Equity earnings                 (58)          (5)       (122)        (14)
  Minority interests               23           18          82          28
  Asset impairment charge           -             -          12          -
  Gain on sale of
   investments and assets          (6)          (1)        (12)        (13)
  Other                             1           80          15          90
 Distributions received
  from equity accounted
  investments                       -            1          65          13
--------------------------------------------------------------------------
                                  610          672       1,867       1,692

Net change in non-cash
 working capital items            263          142        (333)       (533)
--------------------------------------------------------------------------
                                  873          814       1,534       1,159

Financing activities
 Issuance of long-term debt         1           11           3          11
 Repayment of long-term
  debt                            (69)           -        (103)          -
 Issuance of Class B
  subordinate voting shares         -            4           5          12
 Purchase and cancellation
  of Class B subordinate
  voting shares                     -            -           -        (577)
 Dividends paid                  (221)        (210)       (442)       (426)
 Distributions to
  minority interests              (31)           -         (99)          -
 Redemption of
  exchangeable debentures           -           (7)          -        (105)
--------------------------------------------------------------------------
                                 (320)        (202)       (636)     (1,085)

Investing activities
 Property, plant and
  equipment                      (377)        (138)       (727)       (408)
 Investments and other
  assets                         (145)        (147)       (463)       (369)
 Acquisition of Aur
 Resources Inc. (Note 3(a))         -       (2,588)          -      (2,588)
 Proceeds from the sale of
  investments and assets           13            5          20          26
 Decrease in temporary
  investments                       -          100           -         161
 Cash held in trust                 -            7           -         105
--------------------------------------------------------------------------
                                 (509)      (2,761)     (1,170)     (3,073)

Effect of exchange rate
 changes on cash and
 cash equivalents held in
 US dollars                        41          (91)         73        (327)
--------------------------------------------------------------------------

Increase (decrease) in
 cash and cash equivalents
 from continuing operations        85       (2,240)       (199)     (3,326)
Cash received from
 discontinued operations            -            -          38          40
--------------------------------------------------------------------------

Increase (decrease) in
 cash and cash equivalents         85       (2,240)       (161)     (3,286)

Cash and cash equivalents
 at beginning of period         1,162        4,008       1,408       5,054
--------------------------------------------------------------------------

Cash and cash equivalents
 at end of period         $     1,247   $    1,768  $    1,247  $    1,768
--------------------------------------------------------------------------

The accompanying notes are an integral part of these financial statements.


Teck Cominco Limited
Consolidated Balance Sheets
(Unaudited)

--------------------------------------------------------------------------
                                               September 30,   December 31,
(Cdn $ in millions)                                    2008           2007
--------------------------------------------------------------------------

ASSETS

Current assets
 Cash and cash equivalents                     $      1,247   $      1,408
 Accounts and settlements receivable                    765            593
 Inventories                                          1,041          1,004
--------------------------------------------------------------------------

                                                      3,053          3,005

Investments (Note 4)                                  1,752          1,506

Property, plant and equipment                         9,064          7,807

Other assets (Note 6)                                   559            592

Goodwill (Note 3 (a))                                   748            663
--------------------------------------------------------------------------
                                               $     15,176   $     13,573
--------------------------------------------------------------------------

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities
 Dividends payable                             $          -   $        221
 Accounts payable and accrued liabilities               950          1,017
 Current portion of long-term debt                        -             31
--------------------------------------------------------------------------

                                                        950          1,269

Long-term debt                                        1,538          1,492

Other liabilities (Note 7)                              932            994

Future income and resource taxes                      2,598          2,007

Minority interests                                       76             92

Shareholders' equity (Note 11)                        9,082          7,719
--------------------------------------------------------------------------
                                               $     15,176   $     13,573
--------------------------------------------------------------------------

Contingencies (Note 14)
Subsequent event (Note 3 (d), 13 (f))

The accompanying notes are an integral part of these financial statements.


Teck Cominco Limited
Consolidated Statement of Retained Earnings
(Unaudited)

--------------------------------------------------------------------------
                                    Three months            Nine months
                                ended September 30      ended September 30
(Cdn $ in millions)              2008         2007        2008        2007
--------------------------------------------------------------------------

Retained earnings at
 beginning of period      $     5,659   $    4,489  $    5,038  $    4,225

Adoption of financial
 instruments standards              -            -           -         112
--------------------------------------------------------------------------
As restated                     5,659        4,489       5,038       4,337

Net earnings                      424          490       1,266       1,335

Dividends declared                  -            -        (221)       (210)

Class B subordinate
 voting shares repurchased          -            -           -        (483)
--------------------------------------------------------------------------

Retained earnings at
 end of period            $     6,083   $    4,979  $    6,083  $    4,979
--------------------------------------------------------------------------

The accompanying notes are an integral part of these financial statements.


Teck Cominco Limited
Consolidated Statement of Comprehensive Income
(Unaudited)

--------------------------------------------------------------------------
                                    Three months            Nine months
                                ended September 30      ended September 30
(Cdn $ in millions)              2008         2007        2008        2007
--------------------------------------------------------------------------

Net earnings              $       424   $      490  $    1,266  $    1,335

Other comprehensive income
 (loss) in the period
 Currency translation
  adjustment:
  Unrealized gains (losses)       232         (100)        374        (416)
  Less losses reclassified
   to net income on
   realization                      -           59           -          59
  Exchange differences on
   debt designated as hedge
   of self-sustaining
   foreign subsidiaries           (52)          51         (90)         51
--------------------------------------------------------------------------
                                  180           10         284        (306)

Available-for-sale
 instruments:
 Unrealized gains (losses)
  (net of taxes of
  $40, $6, $41 and $6)           (229)         (37)       (254)        (28)
 (Gains) losses
  reclassified to net
   earnings on realization
   (net of tax of $1, $nil,
   $1 and $1)                      (5)          (1)         (5)         (3)
--------------------------------------------------------------------------
                                 (234)         (38)       (259)        (31)

Derivatives designated
 as cash flow hedges:
 Unrealized gains (losses)
  (net of taxes of $10,
  nil, $10 and nil)               (22)           -         (22)          -
 (Gains) losses
  reclassified to net
  earnings on realization
  (net of tax of $4, $2, $7
  and $5)                           8            2          13           6
--------------------------------------------------------------------------
                                  (14)           2          (9)          6
--------------------------------------------------------------------------
Total other comprehensive
 income (loss) (Note 12)          (68)         (26)         16        (331)
--------------------------------------------------------------------------
--------------------------------------------------------------------------

Comprehensive income      $       356   $      464  $    1,282  $    1,004
--------------------------------------------------------------------------

The accompanying notes are an integral part of these financial statements.
 
Teck Cominco Limited

Notes to Consolidated Financial Statements

(Unaudited)

1. BASIS OF PRESENTATION

Our interim consolidated financial statements have been prepared in accordance with Canadian GAAP using standards for interim financial statements and do not contain all of the information required for annual financial statements. Our statements follow the same accounting policies and methods of application as our most recent annual financial statements, except as described in Note 2. Accordingly, they should be read in conjunction with our most recent annual financial statements. All dollar amounts are disclosed in Canadian currency unless otherwise noted.

Certain comparative figures have been reclassified to conform to the presentation adopted for the current period.

2. ADOPTION OF NEW ACCOUNTING STANDARD

Effective January 1, 2008, we adopted the new Canadian Institute of Chartered Accountants (CICA) handbook Section 3031, "Inventories." This section replaces the existing Section 3030 and establishes more prescriptive standards for the measurement and disclosure of inventories. The adoption of this standard did not have an impact on our financial statements.

3. ACQUISITIONS

a. Aur Resources

In the third quarter of 2007, we acquired 100% of the outstanding common shares of Aur Resources Inc. Aur owned interests in three operating mines: the Quebrada Blanca (76.5%) and Andacollo (90%) copper mines located in Chile and the Duck Pond (100%) copper-zinc mine located in Newfoundland, Canada.

We accounted for the acquisition of Aur using the purchase method. Aur's results of operations are included in our consolidated financial statements from August 22, 2007. The purchase cost of $4,054 million was funded with a combination of cash and Class B subordinate voting shares.

Each Class B subordinate voting share was valued at $43.33, being the average closing price on the Toronto Stock Exchange for two trading days before and one day after the announcement of our offer for Aur, less deemed issuance costs.

Our allocation of the purchase cost to the assets acquired and liabilities assumed is based upon estimated fair values at the time of acquisition. We have completed the process of determining fair values for the assets and liabilities acquired. The significant changes from the preliminary allocation at December 31, 2007 are an increase to goodwill of $34 million, a $15 million increase to other assets and an increase to the future income tax liability of $52 million.

Our final allocation of the purchase price to the estimated fair value of the assets and liabilities of Aur is as follows:

--------------------------------------------------------------------------
(Cdn $ in millions)
--------------------------------------------------------------------------

Cash                                                              $    501
Inventory                                                              267
Property, plant and equipment                                        4,135
Goodwill                                                               740
Other                                                                  345
--------------------------------------------------------------------------

Total assets acquired                                                5,988

Current liabilities                                                   (197)
Derivative instrument liability                                        (96)
Long-term liabilities                                                 (297)
Future income tax liability                                         (1,315)
Non-controlling interests                                              (29)
--------------------------------------------------------------------------

Total liabilities assumed                                           (1,934)
--------------------------------------------------------------------------

Net assets acquired                                               $  4,054
--------------------------------------------------------------------------
--------------------------------------------------------------------------

The net cash cost of the acquisition was as follows:

Cash paid to Aur shareholders                                   $    3,089
Less Aur's cash balance on acquisition date                           (501)
--------------------------------------------------------------------------
--------------------------------------------------------------------------
                                                                $    2,588
--------------------------------------------------------------------------
--------------------------------------------------------------------------
 
b. Minera Petaquilla

On March 26, 2008, we satisfied contractual requirements to earn a 26% equity interest in Minera Petaquilla S.A. (MPSA), the Panamanian company that holds the Petaquilla concession. As a condition of earning our interest, we are required to participate in work plans and budgets leading to commercial production, and to fund 52% of project development costs.

In the third quarter of 2008, Inmet Mining Corporation (Inmet), which owns 48% of MPSA, acquired approximately 95% of the outstanding common shares of Petaquilla Copper Ltd., which owns a 26% interest in MPSA. Inmet intends to pursue a compulsory acquisition or other means of acquiring, directly or indirectly, all of the remaining common shares of Petaquilla Copper Ltd. Inmet has also dropped the arbitration proceedings commenced by Petaquilla Copper Ltd. that sought to set aside our acquisition of the 26% equity interest.

Under the terms of our agreement with Inmet, at the earlier of September 30, 2009 or the date on which Inmet has funded at least $50 million in project costs, we must elect whether to continue participating in the project. Inmet assumed interim operatorship of the project on April 1, 2008 and are funding all project related costs.

c. Relincho Copper Project

In August 2008, we completed the acquisition of the Relincho copper project in Chile by way of a plan of arrangement involving Global Copper Corp., the owner of the project. The purchase price was $424 million, being $136 million paid in cash, the issuance of 6.9 million Class B subordinate voting shares valued at $287 million, and $1 million of transaction fees. We accounted for this transaction as an acquisition of assets and have recorded a future income tax liability based upon the difference between the accounting and tax basis of the assets acquired. Accordingly, the purchase price has been allocated as follows: $681 million to mineral properties, $252 million to future income tax liability and $5 million to net liabilities assumed.

d. Fording Canadian Coal Trust

In the third quarter of 2008 we entered into an arrangement to acquire all of the assets of Fording Canadian Coal Trust, which consists primarily of Fording's 60% interest in the Elk Valley Coal Partnership. In aggregate, we will pay approximately US$12.4 billion in cash and issue approximately 36.9 million Class B subordinate voting shares in consideration for the Fording assets.

The cash portion of the consideration will be funded primarily from a US$9.81 billion fully underwritten bridge and term loan facility with a syndicate of banks and the proceeds from the sale of 29.5 million Fording units held by Teck. The bridge loan of US$5.81 billion bears interest at LIBOR plus 1.5% and is due 364 days after it is drawn. The term loan of US$4 billion bears interest at LIBOR plus 1.5% (subject to adjustments based on changes in our credit rating) and is repayable in 11 equal quarterly instalments beginning on April 30, 2009.

All conditions necessary to complete the arrangement have been satisfied or waived and, subject to certain limited termination rights, closing of the transaction is expected to occur on October 30, 2008. Upon closing, we will own 100% of the Elk Valley Coal Partnership.

4. INVESTMENTS

--------------------------------------------------------------------------
(Cdn $ in millions)                 September 30, 2008   December 31, 2007
--------------------------------------------------------------------------
                                    Carrying      Fair  Carrying      Fair
                                       Value     Value     Value     Value
--------------------------------------------------------------------------
Available-for-sale investments:
 Marketable securities              $    122  $    122  $    308  $    308
Held for trading investments:
 Warrants                                  -         -         1         1
--------------------------------------------------------------------------
                                         122       122       309       309
Investments accounted for under
 the equity method:
 Fording Canadian Coal Trust
  (19.6% interest)                       806       750
 Galore Creek Partnership
  (50% interest)                         290       214
 Fort Hills Energy Limited
  Partnership (20% interest)             507       233
 Minera Petaquilla (26% interest)
  (Note 3(b))                             27         -
                                    --------  --------
                                       1,630     1,197
                                    --------  --------
                                    $  1,752  $  1,506
                                    --------  --------
 
5. ASSET IMPAIRMENT CHARGE

During the second quarter of 2008, we recorded an asset impairment charge of $12 million against our Lennard Shelf zinc mine in Western Australia due to continued operating losses. The mine was closed in August 2008.

6. OTHER ASSETS

--------------------------------------------------------------------------
                                               September 30,   December 31
(Cdn $ in millions)                                    2008           2007
--------------------------------------------------------------------------

Restricted cash pledged as security           $         162   $        151
Pension assets                                          203            210
Future income and resource tax assets                    68             70
Cajamarquilla contingent receivable, net of
 current portion of $14 million (Note 13(d))             12             42
Long-term receivables                                    47             51
Other                                                    67             68
--------------------------------------------------------------------------
                                              $         559   $        592
--------------------------------------------------------------------------
 
7. OTHER LIABILITIES

--------------------------------------------------------------------------
                                               September 30,   December 31
(Cdn $ in millions)                                    2008           2007
--------------------------------------------------------------------------

Asset retirement obligations                  $         520   $        492
Other environmental and post-closure costs               82             88
Pension and other employee future benefits              256            244
Forward contracts, net of current portion of
 $52 million (Note 13(a))                                23             78
Other                                                    51             92
--------------------------------------------------------------------------
                                              $         932   $        994
--------------------------------------------------------------------------
 
8. SUPPLEMENTARY CASH FLOW INFORMATION

--------------------------------------------------------------------------
                                    Three months ended   Nine months ended
                                          September 30        September 30
(Cdn $ in millions)                     2008      2007      2008      2007
--------------------------------------------------------------------------

Income and resource taxes paid      $    137  $    208  $    649  $  1,027

Interest paid                       $     13  $     13  $     60  $     60
--------------------------------------------------------------------------
 
9. OTHER INCOME (EXPENSE)

--------------------------------------------------------------------------
                                    Three months ended   Nine months ended
                                          September 30        September 30
(Cdn $ in millions)                     2008      2007      2008      2007
--------------------------------------------------------------------------

Interest income                     $      6  $     35  $     26  $    157
Gain on sale of investments
 and assets                                6         1        12        13
Foreign exchange gain                      9        11         8        12
Reclamation expense for
 closed properties                        (1)        1        (5)      (11)
Derivative gain (loss)                    22       (11)       37       (22)
Realization of cumulative
 translation losses                        -       (59)        -       (59)
Other                                    (17)        3       (20)       (2)
--------------------------------------------------------------------------
                                    $     25  $    (19)  $    58  $     88
--------------------------------------------------------------------------
 
10. EMPLOYEE FUTURE BENEFITS EXPENSE

--------------------------------------------------------------------------
                                    Three months ended   Nine months ended
                                          September 30        September 30
(Cdn $ in millions)                     2008      2007      2008      2007
--------------------------------------------------------------------------

Pension plans                       $     11  $      8  $     31  $     27
Post-retirement benefit plans              6         7        20        22
--------------------------------------------------------------------------
                                    $     17  $     15  $     51  $     49
--------------------------------------------------------------------------
 
11. SHAREHOLDERS' EQUITY

a. Components of shareholders' equity

--------------------------------------------------------------------------
                                               September 30,   December 31
(Cdn $ in millions)                                    2008           2007
--------------------------------------------------------------------------

Share capital                                 $       3,575   $      3,281
Contributed surplus                                      79             71

Accumulated comprehensive income
 Retained earnings                                    6,083          5,038
 Accumulated other comprehensive loss (Note 12)        (655)          (671)
--------------------------------------------------------------------------
                                                      5,428          4,367
--------------------------------------------------------------------------
                                              $       9,082   $      7,719
--------------------------------------------------------------------------
 
b. Stock-based compensation

During the first three quarters of 2008 we granted 1,655,000 Class B subordinate voting share options to employees. These options have a weighted exercise price of $34.43, a term of 8 years and vest in equal amounts over 3 years. The weighted average fair value of Class B subordinate voting share options issued was estimated at $10.00 per share option at the grant date using the Black-Scholes option-pricing model. The option valuations were based on an average expected option life of 4.15 years, a risk-free interest rate of 6.35%, a dividend yield of 2.94% and an expected volatility of 31%.

During the first three quarters of 2008, we issued 479,261 deferred and restricted share units to employees and directors. Deferred and restricted share units issued vest immediately for directors and vest in three years for employees. The total number of deferred and restricted share units outstanding at September 30, 2008 was 1,523,459.

Stock-based compensation expense of $16 million (2007 - $24 million) was recorded for the nine months ended September 30, 2008 in respect of all outstanding options and share units.

c. Share purchase program

We have a share purchase program that allows us to purchase up to 40 million of our outstanding Class B subordinate voting shares by way of a normal course issuer bid until March 10, 2009. Purchases, if any, are made at the prevailing market price of the Class B subordinate voting shares as traded on the Toronto Stock Exchange and any shares purchased are cancelled. During the third quarter of 2008, we did not purchase any Class B subordinate voting shares under this program.

12. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

--------------------------------------------------------------------------
                                               September 30,   December 31
(Cdn $ in millions)                                    2008           2007
--------------------------------------------------------------------------

Accumulated other comprehensive income (loss)
 at beginning of period                       $        (671)  $        (95)
Other comprehensive income (loss) for the
 period                                                  16           (576)
--------------------------------------------------------------------------

Accumulated other comprehensive loss at end
 of period                                    $        (655)  $       (671)
--------------------------------------------------------------------------

The components of accumulated other comprehensive income (loss) are:

--------------------------------------------------------------------------
                                               September 30,   December 31
(Cdn $ in millions)                                    2008           2007
--------------------------------------------------------------------------

Currency translation adjustment               $        (411)  $       (695)
Unrealized gains (losses) on investments
 (net of tax of $35 and $(9))                          (217)            42
Unrealized gains (losses) on cash flow hedges
 (net of tax of $17 and $14)                            (27)           (18)
--------------------------------------------------------------------------

                                              $        (655)  $       (671)
--------------------------------------------------------------------------
 
13. ACCOUNTING FOR FINANCIAL INSTRUMENTS

Our derivative positions at September 30, 2008 are as follows:

a. Forward sales and purchase contracts

--------------------------------------------------------------------------
                                                                      Fair
                              2008    2009    2010    2011   Total   Value
--------------------------------------------------------------------------

Zinc (millions of lbs)
 Fixed forward sales
  contracts                     14      57      57      57     185
 Average price (US$/lb)       0.78    0.72    0.67    0.63    0.68     (22)

Zinc (millions of lbs)(i)
 Fixed forward purchase
  contracts                      3       4       -       -       7
 Average price (US$/lb)       1.00    0.84       -       -    0.92      (1)

Gold (thousands of ozs)
 Forward sales contracts        11      43       -       -      54
 Average price (US$/oz)        350     350       -       -     350     (31)

US dollars (millions of $)
 Forward sales contracts       321     261       -       -     582
 Average rate (US$/C$)        1.02    1.02       -       -    1.02     (24)
                                                                   -------
                                                                       (78)
--------------------------------------------------------------------------

i. From time-to-time, certain customers purchase refined metal products at
   fixed forward prices from the company's smelter and refinery operations.
   The forward purchase commitments for these metal products are matched to
   these fixed price sales commitments to customers.
 
b. Interest Rate Swap

We have an interest rate swap on our long-term debt whereby we have swapped a 7% interest rate on US$100 million to LIBOR plus 2.14%. The interest rate swap matures in September 2012 and has a fair value gain of $3 million as at September 30, 2008.

c. Pricing adjustments

Sales of metals in concentrates are recognized in revenue on a provisional pricing basis when title transfers and the rights and obligations of ownership pass to the customer, which usually occurs on shipment. However, the final pricing for the product sold is not determined at that time as it is contractually linked to market prices at a subsequent date. These arrangements have the characteristics of a derivative instrument as the value of our receivable will vary as prices for the underlying commodities vary in the metal markets. The net income impact of gains and losses on these financial instruments is mitigated by smelter price participation, royalty interests, taxes and minority interests.

d. Cajamarquilla

As a result of the sale of our Cajamarquilla zinc refinery in 2004, we are entitled to price participation payments linked to the price of zinc until 2009. The change in the expected value of these payments is linked to the forward curve for zinc and is recorded in our earnings as discontinued operations.

e. US dollar forward contracts

In July, 2008, we entered into US$811 million of forward sales contracts to fix our US dollar exchange rate for a portion of our coal sales. These contracts are to be settled at an average price of C$1.02 per US$1.00 and mature at varying dates to April, 2009. We have designated the contracts as cash flow hedges and determined that these forward contracts are effective in hedging a portion of our future cash flows from US$ coal sales. Unrealized gains and losses on the forward sales contracts are recorded in other comprehensive income. Realized gains and losses on settled foreign exchange forward contracts are recorded in revenue. As at September 30, 2008 we recorded an unrealized loss of $24 million in other comprehensive income and a realized loss for the three month period ended September 30, 2008 of $7 million in income.

f. Copper forward contracts

In October 2008, we entered into forward sales contracts to fix the copper price for a portion of our copper sales. These contracts, totalling 166 million pounds, are at an average price of US$2.43 per pound and mature at varying dates to March 2009.

14. CONTINGENCIES

We consider provisions for all our outstanding and pending legal claims to be adequate. The final outcome with respect to actions outstanding or pending as at September 30, 2008, or with respect to future claims, cannot be predicted with certainty.

Upper Columbia River Basin (Lake Roosevelt)

The litigation concerning historic discharges by Teck Cominco Metals Ltd. (TCML) of smelter slag into the Upper Columbia River continued in the quarter.

Following the denial of our petition for review by the U.S. Supreme Court in January 2008, the Lake Roosevelt litigation reverted to the Federal District Court for Eastern Washington. Judgment on the first phase of the litigation dealing with issues associated with an EPA order issued in December, 2003 and withdrawn in June 2008, was delivered on September 19, 2008. All of the claims associated with the order were dismissed including the plaintiffs' claims for costs and attorneys' fees. On October 3, 2008, the plaintiffs filed a joint motion for partial reconsideration of the decision and asked that it be entered as a final judgment.

The second phase of the trial is expected to deal with liability and the plaintiffs' claims for natural resource damages and costs. This phase of the case has been deferred until the remedial investigation and feasibility study being conducted by TCML's affiliate Teck Cominco American Incorporated under agreement with the EPA (the Agreement) have been substantially advanced or completed. Until such studies have been completed it is not possible to estimate the amount of the damages, if any, that the plaintiffs have sustained or may claim.

There can be no assurance that TCML will ultimately be successful in its defense of the litigation or that TCML or its affiliates will not be faced with further liability in relation to this matter. Until the studies contemplated by the Agreement and additional damage assessments are completed, it is not possible to estimate the extent and cost, if any, of remediation or restoration that may be required or to assess the company's potential liability for damages. The studies may conclude, on the basis of risk, cost, technical feasibility or other grounds, that no remediation should be undertaken. If remediation is required and damage to resources found, the cost of remediation and/or the damage assessment may be material.

15. SEGMENTED INFORMATION

We have six reportable segments: copper, coal, zinc, gold, energy and corporate based on the primary products we produce or are developing. The corporate segment includes all of our initiatives in other commodities, our corporate growth activities and groups that provide administrative, technical, financial and other support to all of our business units. Other corporate income (expense) includes general and administrative costs, research and development and other income (expense).

--------------------------------------------------------------------------
                              Three months ended September 30, 2008
                                                           Corpor-
(Cdn $ in millions)   Copper    Coal    Zinc  Gold Energy     ate    Total
--------------------------------------------------------------------------

Segmented revenues  $    522  $  600 $   661 $  60 $    -  $    -  $ 1,843
Less inter-segment
 revenues                  -       -     (43)    -      -       -      (43)
--------------------------------------------------------------------------

Revenues                 522     600     618    60      -       -    1,800

Operating profit         200     350     129     8      -       -      687
Interest expense          (3)      -       -     -      -     (14)     (17)
Exploration              (22)      -      (6)   (5)     -     (11)     (44)
Asset impairment
 charge                    -       -       -     -      -       -        -
Other corporate
 income (expense)         21       -      13    (1)     -     (29)       4
--------------------------------------------------------------------------

Earnings (loss) before
 taxes, minority
 interests, equity
 earnings and
 discontinued
 operations              196     350     136     2      -     (54)     630
--------------------------------------------------------------------------

Capital expenditures     274      38      38     2      9      16      377
--------------------------------------------------------------------------


--------------------------------------------------------------------------
                               Nine months ended September 30, 2008
                                                           Corpor-
(Cdn $ in  millions)  Copper    Coal    Zinc  Gold Energy     ate    Total
--------------------------------------------------------------------------

Segmented revenues  $  2,011  $1,365 $ 1,846 $ 186 $    -  $    -  $ 5,408
Less inter-segment
 revenues                  -       -    (167)    -      -       -     (167)
--------------------------------------------------------------------------

Revenues               2,011   1,365   1,679   186      -       -    5,241

Operating profit       1,096     674     383    27      -       -    2,180
Interest expense         (11)     (1)      -     -      -     (42)     (54)
Exploration              (44)      -     (10)  (10)     -     (26)     (90)
Asset impairment
 charge                    -       -     (12)    -      -       -      (12)
Other corporate
 income (expense)         38       -      12   (17)     -     (82)     (49)
--------------------------------------------------------------------------

Earnings (loss) before
 taxes, minority
 interests, equity
 earnings and
 discontinued
 operations            1,079     673     373     -      -    (150)   1,975
--------------------------------------------------------------------------

Total assets           7,676   1,648   3,119   360    852   1,521   15,176

Capital expenditures     475      79      88    12     43      30      727
--------------------------------------------------------------------------


--------------------------------------------------------------------------
                              Three months ended September 30, 2007
                                                           Corpor-
(Cdn $ in millions)   Copper    Coal    Zinc  Gold Energy     ate    Total
--------------------------------------------------------------------------

Segmented revenues  $    622  $  221 $ 1,149 $  46 $    -  $    -  $ 2,038
Less inter-segment
 revenues                  -       -    (106)    -      -       -     (106)
--------------------------------------------------------------------------

Revenues                 622     221   1,043    46      -       -    1,932

Operating profit         394      36     471    (7)     -       -      894
Interest expense          (4)      -       -     -      -     (17)     (21)
Exploration              (10)      -      (5)   (7)     -     (12)     (34)
Other corporate
 income (expense)          4       -      (6)  (10)     -     (47)     (59)
--------------------------------------------------------------------------

Earnings (loss) before
 taxes, minority
 interests, equity
 earnings and
 discontinued
 operations              384      36     460   (24)     -     (76)     780
--------------------------------------------------------------------------

Capital
 expenditures             76       7      33     6      4      12      138
--------------------------------------------------------------------------


--------------------------------------------------------------------------
                               Nine months ended September 30, 2007
                                                           Corpor-
(Cdn $ in millions)   Copper    Coal    Zinc  Gold Energy     ate    Total
--------------------------------------------------------------------------

Segmented revenues  $  1,642  $  733 $ 2,653 $ 122 $    -  $    -  $ 5,150
Less inter-segment
 revenues                  -       -    (317)    -      -       -     (317)
--------------------------------------------------------------------------

Revenues               1,642     733   2,336   122      -       -    4,833

Operating profit       1,119     179     993   (13)     -       -    2,278
Interest expense          (8)     (1)      -     -      -     (55)     (64)
Exploration              (32)      -     (11)  (19)     -     (17)     (79)
Other corporate
 income (expense)          2       -      (7)  (14)     -      (3)     (22)
--------------------------------------------------------------------------

Earnings (loss) before
 taxes, minority
 interests, equity
 earnings and
 discontinued
 operations            1,081     178     975   (46)     -     (75)   2,113
--------------------------------------------------------------------------

Total assets           6,542   1,351   3,039   351    253   2,405   13,941

Capital expenditures     167      20     105    22     74      20      408
--------------------------------------------------------------------------
 
16. SEASONALITY OF SALES

Due to ice conditions, the port serving our Red Dog mine is normally only able to ship concentrates from July to October each year. As a result, zinc and lead concentrate sales volumes are generally higher in the third and fourth quarter of each year than in the first and second quarter.

CONTACT INFORMATION:

Teck Cominco Limited
Greg Waller
Vice President, Investor Relations & Strategic Analysis
(604) 699-4014
Email: greg.waller@teck.com

INDUSTRY: Manufacturing and Production - Mining and Metals

Footer

.
Data and Statistics for these countries : Australia | Canada | Chile | All
Gold and Silver Prices for these countries : Australia | Canada | Chile | All

VanEck Vectors Global Alternative Energy ETF

PRODUCER
CODE : TCK
ISIN : CA8787422044
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Teck is a producing company based in Canada.

Teck produces coal, copper, gold, lead, molybdenum, silver and zinc in Canada, in Chile, in El Salvador and in Peru, develops copper, gold, lead, molybdenum, silver and zinc in Australia, in Canada, in Mexico, in Panama and in Turkey, and holds various exploration projects in Argentina, in Australia, in Burkina Faso, in Canada, in Chile, in China, in Guyana, in Honduras, in Mexico, in Peru and in Turkey.

Its main assets in production are HEMLO, RED DOG, DUCK POND, BOUNDARY - CARAMELIA, WILLIAMS, ELKVIEW COAL MINE (BALMER MINE), HIGHLAND VALLEY, WILLIAMS UNDERGROUND, DAVID BELL and WILLIAMS OPEN PIT in Canada, COLQUIJIRCA MINE, PEND OREILLE, ANTAMINA ZINC ORE and ANTAMINA in Peru, QUEBRADA BLANCA - HYPOGENE, HORN SILVER COMPLEX (SAN FRANCISCO), ANDACOLLO, QUEBRADA BLANCA MINE, CARMEN DE ANDACOLLO and ANDACOLLO HYPOGENE in Chile and SAN SEBASTIAN in El Salvador, its main assets in development are LENNARD SHELF and LENNARD SHELF in Australia, CERATTEPE in Turkey, EL LIMON and POGO in Mexico, GALORE CREEK in Canada and PETAQUILLA and PETAQUILLA COPPER in Panama and its main exploration properties are PORACOTA, PICOTA and SILVER CLOUD in Peru, TAVSAN and ALTINTEPE in Turkey, AURBEL, BEACON NORTH, MAINSTREET, MERIDIAN, FUSE WEST, ADEL, MOUNT PLEASANT, PICKLE CROW, LOUVICOURT, HOMESTAKE RIDGE, GALORE CREEK - COPPER CANYON, KUDZ ZE KAYAH, FORDING RIVER, GREENHILLS, COAL MOUNTAIN, LINE CREEK, CARDINAL RIVER, SULLIVAN MINE, POLARIS MINE and AURBEL (DUMONT MINE) in Canada, LOS VERDES, MORELOS and LA VERDE PROJECT in Mexico, VREDELUS in Namibia, STONEPARK (LIMERICK) in Ireland, APOLLO HILL in Australia and TRUN in Bulgaria.

Teck is listed in Canada, in Germany and in United States of America. Its market capitalisation is 1.6 billions as of today (€ 1.4 billions).

Its stock quote reached its lowest recent point on June 26, 2020 at 10.00, and its highest recent level on January 14, 2022 at 33.98.

Teck has 47 442 200 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
In the News and Medias of VanEck Vectors Global Alternative Energy ETF
7/5/2008Duluth Complex: A World-Class Value Play
1/31/2008 Comments on Red Dog and Highland Valley
Financings of VanEck Vectors Global Alternative Energy ETF
7/15/2009Announces Closing of Private Placement
7/3/2009Announces C$1.74 Billion Private Placement
Option Grants of VanEck Vectors Global Alternative Energy ETF
11/14/2012Announces 12.5% Dividend Increase
4/25/2012Announces Dividend
10/27/2011Announces 33% Dividend Increase
Nominations of VanEck Vectors Global Alternative Energy ETF
7/26/2017Announces Appointment of Scott Maloney =?ISO-8859-1?Q?as=20V...
9/13/2013Announces Appointment of Andrew Golding =?ISO-8859-1?Q?=20as...
6/20/2013Announces Appointment of Dale Andres as =?ISO-8859-1?Q?=20Se...
6/20/2013Announces Appointment of Ian Kilgour as Executive Vice Presi...
4/3/2013Appoints New Vice President, Community and Government Relati...
10/9/2012Edward C. Dowling Appointed to Teck Board of Directors
6/1/2011Announces Retirement of General Manager, Trail Operations
6/1/2011New General Manager Appointed to Lead Teck's Trail Operation...
4/20/2011New Vice President Appointed to Lead Teck Asian Affairs
10/1/2008 Names Ray Reipas Vice President of Energy
6/29/2007Announces Appointment Of Tim Watson As Senior Vice President...
Financials of VanEck Vectors Global Alternative Energy ETF
7/27/2017(Port)Reports Unaudited Second Quarter Results for 2017
7/28/2016Reports Unaudited Second Quarter Results for 2016
6/29/2016Q2 2016 Financial Results and Inves =?ISO-8859-1?Q?tors=27=2...
4/27/2016Announces Dividend
4/26/2016(Port)Reports Unaudited First Quarter Results for 2016
4/1/2016Q1 2016 Financial Results and Inves =?ISO-8859-1?Q?tors=27=2...
2/11/2016(Port)Reports Unaudited Fourth Quarter Results for 2015
1/5/2016Q4 2015 Financial Results and Inves =?ISO-8859-1?Q?tors=27=2...
10/22/2015(Port)Reports Unaudited Third Quarter Results for 2015
9/28/2015Q3 2015 Financial Results and Inves =?ISO-8859-1?Q?tors=27=2...
7/23/2015(Port)Reports Unaudited Second Quarter Results for 2015
6/24/2015Q2 2015 Financial Results and Inves =?ISO-8859-1?Q?tors=27=2...
4/21/2015(Port)Reports Unaudited First Quarter Results for 2015
2/13/2014(Port)Reports Unaudited Fourth Quarter Results for 2013
1/20/2014Q4 2013 Financial Results and Inves =?ISO-8859-1?Q?tors=27=2...
10/24/2013(Port)Reports Unaudited Third Quarter Results for 2013
9/30/2013Q3 2013 Financial Results and Inves =?ISO-8859-1?Q?tors=27=2...
7/25/2013(Port)Reports Unaudited Second Quarter Results for 2013
6/27/2013Q2 2013 Financial Results and Inves =?ISO-8859-1?Q?tors=27=2...
4/23/2013(Port)Reports Unaudited First Quarter Results for 2013
4/3/2013Q1 2013 Financial Results and Inves =?ISO-8859-1?Q?tors=27=2...
2/7/2013(Port)Reports Unaudited Fourth Quarter Results for 2012
1/16/2013Q4 2012 Financial Results and Inves =?ISO-8859-1?Q?tors=27=2...
10/24/2012(Port)Reports Unaudited Third Quarter Results for 2012
9/27/2012Q3 2012 Financial Results and Inves =?ISO-8859-1?Q?tors=27=2...
7/25/2012(Port)Reports Unaudited Second Quarter Results for 2012
6/28/2012Q2 2012 Financial Results and Inves =?ISO-8859-1?Q?tors=27=2...
4/25/2012(Port)Reports Unaudited First Quarter Results for 2012
3/28/2012Q1 2012 Financial Results and Inves =?ISO-8859-1?Q?tors=27=2...
1/18/2012Q4 2011 Financial Results and Inves =?ISO-8859-1?Q?tors=27=2...
10/12/2011Q3 2011 Financial Results and Inves =?ISO-8859-1?Q?tors=27=2...
7/29/2011(Port)Reports Unaudited Second Quarter Results for 2011
2/8/2011Reports Unaudited Results for 2010
7/28/2010Reports Second Quarter Results for 2010
4/20/2010First Quarter Results for 2010
2/9/2010Fourth Quarter Results for 2009
1/13/2010Q4 2009 Financial Results February =?ISO-8859-1?Q?8,=202010=...
10/5/2009Q3 2009 Financial Results October 28
10/28/2009Reports Third Quarter Results for 2009
7/23/2009Reports Second Quarter Results for 2009
2/17/2009CORRECTION FROM SOURCE: Teck Reports Fourth Quarter Results ...
2/17/2009 Reports Fourth Quarter Results for 2008
1/23/2009Q4 2008 Financial Results February
7/24/2008Reports Second Quarter Results for 2008
7/5/2008Q2 2008 Financial Results July =?ISO-8859-1?Q?=2023,=202008=...
4/23/2008 Reports First Quarter Results for 2008
2/12/2008Reports Fourth Quarter Results for 2007
10/9/2007Q3 2007 Financial Results Octob =?ISO-8859-1?Q?er=2029,=2020...
7/31/2007 Reports Second Quarter Results for 2007
7/3/2007Q2 2007 Financial Results July =?ISO-8859-1?Q?=2030,=202007=...
Project news of VanEck Vectors Global Alternative Energy ETF
10/19/2016to Acquire 100% of Teena/Reward Zinc Project
1/16/2016Alaska zinc mine sues municipality over new severance tax
10/7/20156:02 am Teck Resources enters long-term streaming agreement ...
8/27/2015Canada's Goldcorp, Teck team up to develop Chile mine projec...
6/22/2015Chile environmental regulator eyes sanctions for Teck copper...
4/27/20159:34 am Teck Resources announces acquisition of an additiona...
4/6/2015Teck Resources' Greenhills coal mine re-opens after fire
10/31/2013(Fort Hills)Announces Partners Proceeding with Fort Hills Oil Sands Proj...
6/9/2012(Port)Files Technical Report for Quebrada Blanca Phase 2 Project
6/7/2011(Carmen De Andacollo)Announces Temporary Production Interruption at Carmen de And...
4/15/2011(Carmen De Andacollo)Inaugurates New Concentrator at Carmen de Andacollo
4/8/2011(Elkview Coal Mine (balmer Mine))Announces Elkview Operation Collective Agreement
4/3/2011(Elkview Coal Mine (balmer Mine))Announces Memorandum of Settlement Reached at its Elkview Op...
3/15/2011(Elkview Coal Mine (balmer Mine))Announces Tentative Collective Agreement at its Elkview Oper...
3/14/2011(Carrapateena)Announces Sale of Carrapateena Project
1/31/2011(Elkview Coal Mine (balmer Mine))Announces Labour Interruption at Its Elkview Operation
1/27/2011(Elkview Coal Mine (balmer Mine))Announces Elkview Strike Notice
7/2/2010(Greenhills)Provides Update on Incident
6/29/2010(Greenhills)Reports Serious Incident
2/24/2010(Line Creek)Line Creek Collective Agreement
1/21/2010(Highland Valley)! 7 Cent Jr. Hits Visible Copper Over 160 Meters Near Teck's...
1/15/2010(Red Dog)Comments on Red Dog Permit Appeal
1/5/2010(Antamina)Expansion at Antamina Mine
9/24/2009(Agi Dagi - Deli Zone) Proposed Sale of Turkish Gold Projects
8/13/2009(Andacollo)Possible Andacollo Permitting Delay
8/6/2009(Morelos)Proposed Sale of Morelos Gold Project
7/8/2009(Pogo)Closing of Pogo Sale
2/20/2009(Williams)Announces Sale of Hemlo Mines
12/15/2008(Pend Oreille) Announces Temporary Shutdown of Pend Oreille Zinc Mine
11/17/2008(Fort Hills)Fort Hills Energy Limited Partnership Defers Mine Decision U...
9/17/2008(Fort Hills Oil Sands)Fort Hills Energy Limited Partnership Releases Updated Cost ...
7/15/2008(Lennard Shelf)Lennard Shelf Operation Ceases Production
3/27/2008(Petaquilla)and Inmet Mining Announce Arrangements for Proceeding With P...
3/3/2008(Quebrada Blanca Mine) Reports New Billion Tonne Copper Resource at Quebrada Blanc...
12/31/2007(Elkview Coal Mine (balmer Mine))2007 Technical report
Corporate news of VanEck Vectors Global Alternative Energy ETF
7/27/2017Announces Dividend
8/31/2016Teck Resources acquires 11.6% stake in Jet Gold
8/19/2016Top Analyst Upgrades and Downgrades: AK Steel, Allergan, Arc...
7/28/2016Teck Reports Unaudited Second Quarter Results for 2016
7/28/2016Teck Resources beats 2Q profit forecasts
7/27/2016Teck Announces Retirement of Vice President, Investor Relati...
5/6/2016Donates to Canadian Red Cross Fort McMurray Wildfire Relief ...
4/29/2016Reports Voting Results From Annual General Meeting
2/1/2016Freeport-McMoRan Burned Cash in 4Q15: Will 2016 Be Better?
1/25/2016Technical Coverage of Industrial Metals & Minerals Stocks --...
1/21/2016Teck Named to the Global 100 Most Sustainable Corporations L...
1/15/2016Teck Resources sues Alaska borough over tax hike
1/15/2016Teck Alaska Files Legal Complaint Over Severe Tax Hike
1/14/2016The Zacks Analyst Blog Highlights: Compañia de Minas Buenave...
1/5/2016Teck's Q4 2015 Financial Results and Investors' Conference C...
12/22/2015Teck Media and Investor Webcast Advisory - December 2, 2015
12/3/2015Teck Resources Geared Up to Face Bleak Coal Fundamentals
12/3/2015Could OPEC’s Meeting Negatively Impact Freeport-McMoRan?
12/2/2015Miner Teck says could monetize assets to raise cash if neede...
11/29/2015Teck Resources Ltd (USA) (TCK): Are Hedge Funds Right About ...
11/27/2015The 52-Week Low Club for Friday
11/26/2015Here is What Hedge Funds Think About Con-way Inc (CNW)
10/26/2015A Closer Look at Freeport-McMoRan’s 3Q15 Earnings
10/22/2015Teck Resources stock up as operating earnings outshine write...
10/22/2015Teck Resources reports 3Q loss
10/22/2015Teck Reports Unaudited Third Quarter Results for 2015
10/22/2015Teck Resources reports quarterly loss on C$2.2 bln charge
10/20/2015Teck Announces Appointment of Lawrence Watkins as Vice Presi...
10/12/2015Teck draws long-term upside play
10/8/2015After Freeport-McMoRan’s October Two-Month High, What Next?
10/7/2015Teck Announces Silver Streaming Agreement with Franco-Nevada
9/30/2015How is Rio Tinto Weathering the Copper and Coal Price Downtu...
9/28/2015Teck's Q3 2015 Financial Results and Investors' Conference C...
9/25/2015The 52-Week Low Club for Friday
9/20/2015Could Southern Copper Offer Stable Returns in Global Sell-Of...
9/14/2015Moody's cuts Teck Resources debt rating to junk
9/11/2015Capex Cut Could Help Improve Freeport-McMoRan’s Balance Shee...
9/10/2015Teck Named to Dow Jones Sustainability World Index
9/10/2015Anglo American seen likely to cut dividend as metal prices f...
9/1/2015Teck Media and Investor Webcast Advisory
8/28/2015Teck/Goldcorp to Merge Chilean Projects for Better Returns
8/27/2015Goldcorp Inc. (USA) (GG) And Teck Resources Ltd (USA) (TCK) ...
8/27/2015Goldcorp and Teck Combine El Morro and Relincho Projects in ...
8/19/2015How To Play Copper Long Term Amid A Low Prices Environment
8/18/2015The 'Elusive' Bottom Might Still Not Be In For Metals & Mini...
8/13/2015Freeport-McMoRan Continues to Trade Weakly: Investor Takeawa...
7/23/2015Miner Teck beats expectations, eyes further coal cutbacks
7/23/2015Teck Reports Unaudited Second Quarter Results for 2015
7/23/2015Teck Resources beats 2Q profit forecasts
7/14/2015Large trade bets on Teck rebound
7/9/2015Teck Announces Carmen de Andacollo Gold Stream
6/17/2015Copper Demand Takes a Hit as Car Sales Sputter in China
6/11/2015Dodge & Cox Buys 2 New Stocks
4/27/2015Chilean Refined Copper Production Falls to 2-Year Low
4/27/2015US Copper Demand Strong in Auto Sector, Appliances
4/27/2015Teck Announces Subscription to Erdene Placement
4/24/2015No Major Surprises in Freeport-McMoRan’s 1Q Earnings
4/24/2015Teck Reports Voting Results from Annual and Special Meeting
4/21/2015Teck Resources says China coal demand weakens; cuts dividend
4/21/2015CANADA STOCKS-TSX slides as resource shares drop, profit-tak...
4/21/20156:22 am Teck Resources misses by $0.06, misses on revs
4/21/2015Teck Announces Dividend
4/21/2015Teck Reports Unaudited First Quarter Results for 2015
4/21/2015Teck Resources cuts dividend by two-thirds on lower prices
4/17/2015What to Watch in the Week Ahead and on Monday, April 20
4/13/2015Gibson Energy to build 900,000 barrels of crude storage in A...
4/13/2015Teck Provides Update on Fort Hills Marketing and Logistics
4/5/2015Teck Reports Incident at Greenhills Operations
4/2/2015Why Freeport Investors Should Track China’s Automobile Indus...
4/2/2015Building Sales in China Fell Steeply in February 2015
4/1/2015Bull Market Excesses Hit the Chinese Copper Industry
4/1/2015Weakness Seen in Teck Resources (TCK): Stock Tumbles 10% - T...
4/1/2015CANADA STOCKS-TSX set to open higher
3/31/2015Movado and CBRE Group are big market movers
3/31/2015CANADA STOCKS-TSX steady as Teck decline offsets banks' rise
3/31/2015How China Became the Global Copper Giant
3/31/2015CANADA STOCKS-TSX set for lower open ahead of GDP data
3/31/2015PRESS DIGEST- Canada - March 31
3/25/2015Teck's Q1 2015 Financial Results and Investors' Conference C...
3/25/2015Teck Announces Appointment of Andrew Stonkus as Senior Vice ...
3/24/2015Ill Wind Blowing On Copper, Aluminum Producers
3/17/2015Teck Announces Appointment of Andrew Stonkus as Senior Vice ...
3/17/2015How is Freeport reacting to lower energy prices?
3/17/2015Lower energy prices a negative for Freeport-McMoRan
3/17/2015How lower copper prices impact Freeport-McMoRan
3/11/2015What part of Freeport’s financials should investors track?
3/10/2015How’s Freeport doing with its energy assets?
3/10/2015Why Freeport’s North American operations are so important
3/9/2015Freeport-McMoRan’s global mining portfolio
3/6/2015How Freeport is responding to regulatory changes in Indonesi...
3/6/2015Why asset sales won’t be easy for Freeport-McMoRan
3/6/2015An investor’s guide to Freeport-McMoRan
1/22/2014Named to the Global 100 Most Sustainable Corporations List
1/16/2014Media and Investor Audiocast Advisory
11/20/2013Announces Dividend
11/17/2013Uranium | Silver Market Review | Teck
11/13/2013Media and Investor Webcast Advisory
10/17/2013Acquires East Kootenay Lands
9/13/2013Named to Dow Jones Sustainability World Index
9/5/2013Announces Exercise of Strait Minerals Warrants
7/16/2013Copper Fox Metals and Teck Resources form Schaft Creek Joint...
6/26/2013Receives Regulatory Approval for Renewal of Share Buy-Back P...
6/11/2013Announces Subscription to Horizonte Minerals Share Placement
6/7/2013Announces Asset Exchange Agreement
6/7/2013Recognized for Corporate Citizenship and Social Responsibili...
5/9/2013Announces Subscription to True Gold Mining Share Placement
5/7/2013Media and Investor Webcast Advisory
4/27/2013(Port)Reports Voting Results from Annual General Meeting
4/24/2013Announces Dividend
4/16/2013Receives B=2EC=2E Ministry of Environment Area Based Managem...
4/3/2013UNICEF Canada and Teck Launch Partnership to =?ISO-8859-1?Q?...
2/20/2013Media and Investor Webcast Advisory
2/19/2013The Micronutrient Initiative, Government of Canada and Teck ...
1/23/2013Named to Global 100 Most Sustainable Corporations List
1/14/2013Media and Investor Webcast Advisory
11/9/2012Announces New Vice President Appointments
10/19/2012Announces Redemption of Notes
9/15/2012Named to Dow Jones Sustainability World Index
9/14/2012Announces Vice President Appointments
9/10/2012Announces Agreement as to Certain Facts in Upper Columbia Ri...
9/5/2012Media and Investor Webcast Advisory
8/16/2012Announces Subscription to Strait Minerals Share Placement
7/31/2012Announces Pricing of US$1.75 Billion Notes Offering
7/9/2012Announces Temporary Withdrawal of Quebrada Blanca Phase 2 SE...
7/6/2012(Cardinal River)Announces New Collective Agreement at Cardinal River Operati...
6/28/2012Marks Canada Day with Trans Canada Trail Investment
6/26/2012Receives Regulatory Approval for Renewal of Share Buy-Back P...
6/19/2012Announces Subscription to Horizonte Minerals Share Placement
6/9/2012Announces New Collective Agreement at Trail Operations and R...
6/1/2012Announces Tentative Collective Agreement at Trail Operations
5/15/2012=?ISO-8859-1?Q?The=20Micronutrient=20Initiative,=20Governmen...
5/10/2012Media and Investor Webcast Advisory
4/4/2012Announces Closing of SilverBirch Transaction
3/19/2012and China's Ministry of Agriculture Sign Agreement to Promot...
3/14/2012Media and Investor Advisory
2/23/2012Media and Investor Webcast Advisory
2/17/2012Announces Redemption of US$1.051 Billion Principal Amount of...
2/17/2012Announces Pricing of US$1.00 Billion Notes Offering
2/16/2012Announces Notes Offering
2/9/2012(Port)Reports Unaudited Results for 2011
2/8/2012Announces New Collective Agreement at its Quebrada Blanca Op...
1/27/2012and BASF Announce Partnership to Reduce Zinc Deficiency Thro...
1/18/2012Media and Investor Webcast Advisory
1/7/2012(Carmen De Andacollo)Announces New Collective Agreement at Carmen de Andacollo
12/20/2011Closes Strait Gold Placement
11/28/2011Media and Investor Webcast Advisory
9/22/2011(Highland Valley)Announces Major Upgrades at Trail and Highland Valley Operat...
9/6/2011Media and Investor Webcast Advisory
9/2/2011and Ridley Terminals Announce Coal Shipment Agreement
6/30/2011Announces Pricing of US$2.0 Billion Notes Offering
6/29/2011Announces Notes Offering
6/23/2011Receives Regulatory Approval for Share Buy-Back Program
6/20/2011s Coal Guidance
5/12/2011Reaches Agreement at Community Justice Forum
4/6/2011Announces Extension of its Odd Lot Selling Program
3/14/2011Announces Coal Production Guidance
3/4/2011Announces Coal Shipment Agreement with Westshore
2/24/2011Announces Odd Lot Selling Program
8/17/2010Notes Offering Closes
8/9/2010Increases Its Previously Announced Cash Tender Offer
8/4/2010Announces Pricing of US$750 Million of 7 and 30 Year Notes
7/16/2010Provides Additional Update on Greenhills Incident
6/21/2010Media & Investor Webcast Advisory
5/26/2010To Renew Debt Shelf Prospectus
5/20/2010Aqqaluk to Proceed
5/7/2010Media and Investor Webcast Advisory
4/22/2010Dividend
3/23/2010Annual Disclosure Documents
3/5/2010Waneta Dam Sale Closing
3/1/2010Confirms No Damage to Chilean Mines
2/17/2010Comments on Additional Permit Appeal at Red Dog
2/12/2010Agreement with Westshore on Coal Shipments
2/4/2010BCUC Approval of Waneta Dam Transaction
1/25/2010Closing of Andacollo Gold Royalty Transaction
12/8/2009Coal Production Guidance
9/23/2009Recognized for Outstanding Achievement in Mine Reclamation
7/31/2009Full Production at Trail and Update on Coal Sales
7/6/2009Secures Reduction in Rail Costs
6/25/2009Reports on Geotechnical Issues Identified at Highland Valley
6/23/2009Recognized for Excellence in Mine Safety and Mine Rescue & F...
6/22/2009Provides Coal Update
2/20/2009Sale of El Brocal
1/8/2009Announces Global Workforce Reduction of 13% and 2009 Coal Pr...
10/1/2008 Announces the Creation of Five Strategic Business Units and...
9/30/2008 Enters Into Definitive Credit Agreements
10/1/2008Announce Receipt of Final Order and Satisfaction of Closing ...
9/29/2008Provides Update on Financing for Fording Transaction
9/11/2008Named to Dow Jones Sustainability Index
8/2/2008Global Copper Corp=2E and Teck Cominco Limited Announce Clos...
7/29/2008Acquire Fording Canadian Coal Trust Assets
7/28/2008Global Copper Shareholders Approve Teck Cominco Transaction
6/11/2008Metals Ltd=2E and United Steelworkers Reach Contract Agreeme...
5/31/2008on Trail Incident From Teck Cominco Metals Limited
5/30/2008Statement From Teck Cominco Metals Limited
4/23/2008Announces Dividend
4/14/2008Acquire Global Copper Corp.
3/7/2008Receives Regulatory Approval For Share Buy-Back Program
1/8/2008U.S. Supreme Court Denies Teck Cominco's Petition for Review...
11/26/2007UPDATES PROGRESS AT THE ROCMEC 1 GOLD PROPERTY
11/21/2007Announces Dividend
10/31/2007 Files Shelf Prospectus
9/28/2007Completes Acquisition of Aur Resources
9/24/2007Increases Holding in Fording Canadian Coal Trust to 19.95%
9/20/2007Announces Acquisition of Additional 5% Interest in Fort Hill...
8/30/2007Commences Compulsory Acquisition of Remaining Aur Shares
8/22/2007Acquires Approximately 93% of Aur Resources Common Shares
8/13/2007European Commission Approval for Aur Resources Transaction
8/3/2007Announces Canadian Competition Approval for Aur Resources Tr...
7/14/2007Review Coroner's Inquest Jury Recommendations
7/3/2007CORRECTION FROM SOURCE: Teck Cominco Makes Friendly C$41 Per...
6/28/2007Announces Fort Hills Design Basis Approval
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
NYSE (TCK)TORONTO (TCK-B.TO)
33.98+1.01%33.57+1.60%
NYSE
US$ 33.98
01/14 16:10 0.340
1.01%
Prev close Open
33.64 33.24
Low High
32.82 34.34
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  33.98 -%
Volume 1 month var.
4,241,389 -%
24hGold TrendPower© : 22
Produces Coal - Copper - Gold - Lead - Molybdenum - Silver - Zinc
Develops Copper - Gold - Lead - Molybdenum - Silver - Zinc
Explores for Coal - Copper - Gold - Lead - Molybdenum - Silver - Tungsten - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 11/18/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.05+0.43%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 8.91-2.73%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.59-3.26%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.05+10.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.06+0.00%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
 12.67+0.88%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.34+6.25%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.18+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
 1.77-2.21%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 40.37-0.22%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :
VanEck Vectors Global Alternative Energy ETF profile | VanEck Vectors Global Alternative Energy ETF news | VanEck Vectors Global Alternative Energy ETF market Indicators | VanEck Vectors Global Alternative Energy ETF projects and resources | VanEck Vectors Global Alternative Energy ETF valuation | Go to VanEck Vectors Global Alternative Energy ETF properties | VanEck Vectors Global Alternative Energy ETF corporate presentation | VanEck Vectors Global Alternative Energy ETF annual report | VanEck Vectors Global Alternative Energy ETF management | VanEck Vectors Global Alternative Energy ETF interactive charts | VanEck Vectors Global Alternative Energy ETF free charts | VanEck Vectors Global Alternative Energy ETF NYSE | VanEck Vectors Global Alternative Energy ETF TORONTO | VanEck Vectors Global Alternative Energy ETF FRANKFURT
Take advantage of rising gold stocks
  • Subscribe to our weekly mining market briefing.
  • Receive our research reports on junior mining companies
    with the strongest potential
  • Free service, your email is safe
  • Limited offer, register now !
Go to website.