Teck Resources Ltd reports surprise adjusted profit as costs decline

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Teck Resources Ltd.'s Canada’s largest diversified miner, reported first-quarter results that beat analysts’ estimates as the company cut costs to offset the impact of lower commodity prices.

Teck Resources Ltd. reported much better-than-expected first quarter results as it responded to weak commodity prices with deep cost reductions.

Adjusted profit came in at $18 million, or three cents a share, Vancouver-based Teck said on Tuesday. Analysts, on average, were expecting a loss of four cents.

With the exception of the Pend Oreille zinc mine, Teck said all of its operations were cash positive in the first quarter.

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