What Will Happen to Teck Resources Ltd's Energy Business?
Diversified Canadian miner, Teck Resources Ltd (NYSE: TECK), is getting a big boost lately from improving met coal sales. While that key market has, rightly, taken center stage lately, the company's energy division is gearing up for big news of its own later this year. Here's what you need to know about the progress of Teck's plans to further diversify its operations.
Teck mines for three main commodities, which gives it a diversified revenue stream. That's been important in recent years because of a deep downturn in the mining space. To put some numbers on that, in 2014 coal accounted for about 14% of gross profits, with copper and zinc roughly splitting the rest. In 2015 coal made up 15% of gross profits, with copper at 33% and zinc 51%. Those two sets of numbers show how the businesses shift around, with one segment of Teck's business often offsetting weakness in the others.
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Source: Fool.com
