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April 26 (Reuters) - Canadian miner Teck Resources Ltd
TCKb.TO TCK.N reported a 38 percent rise in quarterly profit
as cost cutting measures and a weak Canadian dollar helped
cushion the impact of lower coal and copper prices.
The global commodity rout has pushed coal and copper prices
to multi-year lows, forcing miners to sell assets, lay off
workers, and cut dividends and capital spending to preserve cash
and reduce debt.
However, a strong dollar has helped Teck, which sells
commodities in the U.S. currency, but incurs expenses in local
currencies, particularly the Canadian dollar.
Teck, the largest producer of steel-making coal in North
America, said on Tuesday it expected steel-making coal sales to
exceed 6.5 million tonnes in the current quarter.
Net profit attributable to the company rose to C$94 million
($74 million), or 16 Canadian cents per share, for the first
quarter ended March 31, compared with C$68 million, or 12
Canadian cents per share, a year earlier.
The Vancouver-based company's revenue fell by 16 pct to
C$1.70 billion.
($1 = 1.2638 Canadian dollars)