According to the Zhidao Finance app, due to the increase in production of the Quebrada Blanca copper mine in Chile and the rise in copper prices, Canadian mining company Teck Resources (TECK.US) announced better-than-expected second-quarter earnings on Wednesday. The financial report shows that the company's Q2 diluted earnings per share are CAD 0.79 (USD 0.5729), higher than the market expectation of CAD 0.73.

Against the backdrop of market bets on interest rate cuts and concerns about supply, the price of copper used for electricity and construction in the second quarter of June remained high, reaching a historical high in May.

Teck Resources said that copper prices rose 15% from the same period last year to an average of $4.42 per pound. The company's copper production in the second quarter was 110,400 tons, an increase of 71% from the same period last year.

However, the company has lowered its annual copper production guidance to between 0.435 million and 0.5 million tons due to 'short-term access barriers caused by mine dewatering and local soil and rock problems' that may cause a decline in production at the Quebrada Blanca mine.

The second-quarter coal production for steelmaking was 6.3 million tons, up from 5.8 million tons in the same period last year, and sales were 6.4 million tons, compared to 6.2 million tons in the same period last year.

Earlier this month, Teck Resources announced that it had completed the sale of the remaining 77% stake in its steelmaking coal business to Swiss mining company Glencore. The transaction was announced last year at which time Teck hoped to establish its own copper business.