Teck Warns of Higher Fuel Costs From Mideast Energy Shock

Canada’s Teck Resources Ltd. warned of higher fuel costs for its key Chilean copper mines as the war in the Middle East chokes supply chains, even as higher commodity prices buoyed the company’s earnings in the first quarter.

As the war disrupts global energy shipments, “there could be an amplified impact on costs at our Chilean operations due to the requirement for diesel imports,” the Vancouver-based miner said as it reported a 125% jump in first-quarter core earnings.