Weak commodity prices hurt Teck's three core business units —coal, copper and zinc— but coal was particularly hard hit due to increased supply from Australia, the company said.
The Vancouver-based miner's shares surge after its silver and gold properties in Mexico and Peru up production more than 50%.
The mining giant believes demand for coal to keep growing over the next 20 years, driven mainly by China and India.
The separate company would be listed on the London Stock Exchange, as well as the Australian and South African markets.
The former Xstrata boss is already hunting for mining deals.
The price of gold may be enjoying a double-digit increase so far this year and some equities may even have doubled their value, but Jeff Killeen of CIBC World Markets says it's not time to jump into metals with both feet. Be selective, he says.
Combined estimate investment exceeds $13 billion, says the government.
Investors have again begun flirting with the junior mining sector. Will it lead to a love affair or is it just a tryst?
Arctic region's vast riches set to attract over $100 billion in investments over the next decade.
Despite the gloomy results, the commodities giant revenues for the year jumped 9% to $232.6 billion
Adam Low of Raymond James believes that the outlook is excellent for zinc, good for copper and neutral for iron ore.
Total investment in the sector tumbled to $3.25 billion from $5.13 billion in 2012.
This was the first production report since the Anglo-Swiss firm completed the acquisition of Xstrata last May.
But the industry also led a 12% drop in total releases in 2012.
Last year alone there were 149 conflicts involving mines in the country.
Lemieux believes that with the wheat separated from the chaff over the past tumultuous year, the truly strong companies have emerged. But you may be surprised by the jurisdictions he predicts will come to life in 2014.
This mining veteran "only" needs about $3 billion to start buying assets.
In this environment, investors should stay cautious and the focus should remain on companies with strong balance sheets, top tier management teams, and projects in safe jurisdictions.
Top exporter Indonesia's ban on ore shipments largely off-set by record global stockpiles of ore and metal and rising mine output.
Against expectations of a last minute climbdown by authorities, Indonesia's nickel, bauxite and tin ore ban went into effect Sunday.
As the large zinc mines shut down, the juniors are stepping forward to meet growing demand for the industrial staple.
But bubbly stock markets could see investors return to the sector as 2013's plunge in commodity prices make metals and minerals look cheap.
While 2013 will go down as the one when gold stop glittering and miners were forced to tighten their belts, our readers favoured a wide range of stories.
Dr. Copper sending positive signs for 2014.
Forget about the gold price. Forget about the copper, zinc and nickel price. Start searching out companies that can weather another few years of recovery, because it's unlikely mining companies will get any price relief soon.
Analysts said Baja is done.
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