Teck Resources Limited reported record annual profit attributable to shareholders of USD 2.7 billion, or USD 4.52 per share, up 47% from USD 1.8 billion in 2010. Fourth quarter profit attributable to shareholders was USD 637 million, or USD 1.08 per share, almost double the USD 325 million, or USD 0.55 per share, in the fourth quarter of 2010.

Highlights and Significant Items
1. Record annual revenues of USD 11.5 billion (up 25% from 2010).
2. Record gross profit, before depreciation and amortization, of USD 5.8 billion (up 30% from 2010).
3. Record annual profit attributable to shareholders of USD 2.7 billion (up 47% from 2010).
4. Record cash flow from operations, before working capital changes, of USD 4.6 billion (up 37% from 2010).
5. Record annual copper production of 321,000 tonnes (up from 313,000 tonnes in 2010).
6. Record material moved at our coal operations resulted in coal production of 6.7 million tonnes in the fourth quarter.

Mr Don Lindsay president and CEO said that “2011 was another strong year for Teck. Higher average commodity prices combined with strong operating results contributed to new records for each of revenue, gross profit, profit and cash flow from operations. This allowed us to increase our annualized dividend rate to USD 0.80 per share. We ended the year with USD 4.4 billion in cash, which puts us in a strong position to advance our various expansion projects.”