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TSX posts modest dip, Feb. 15-19
The Quebrada Blanca 2 copper project in Chile. Credit: Teck Resources.
The S&P/TSX Composite Index fell 75.93 points (0.41%) to finish the Feb. 15-19 trading week at 18,384.27. The Global Base Metals Index rose 10.2% to 169.75 and the Global Mining Index gained 2.1% to 108.27. Spot gold fell US$39.70 per oz. (2.2%) to US$1,784.60 per oz., and the S&P/TSX Global Gold Index dropped 7.5% to 281.01.
Teck Resources’ Class A common shares jumped $4.01 to $32.97. The company announced its unaudited annual results for 2020 and reported an adjusted profit attributable to shareholders of $561 million or $1.05 per share and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $2.6 billion. It also announced that last year it met its target of 40% overall completion of its Quebrada Blanca Phase 2 copper project in Chile, one of the world’s largest undeveloped copper resources. In other news, Teck announced that commissioning