Teck says U.S. tariffs would have minimal impact on export of critical minerals from B.C.
Premier David Eby has held up critical minerals as key weapon in potential trade war with U.S.
Vancouver-based mining company Teck Resources Ltd. says it expects to find other trade routes for some of the metals it refines in B.C. if the U.S. goes ahead with tariffs.
Chief executive Jonathan Price told a conference call with investors that border taxes shouldn't have a material impact on Teck overall, but that it will adjust where need be.
B.C. Premier David Eby has held Teck up as an example of why the United States should not impose tariffs on Canadian goods, pointing out that the company's smelter operation in Trail, B.C., exports minerals critical for night vision goggles and electronic devices.
"If the United States doesn't get this metal from the Teck smelter in Trail, it's not available at all," Eby said in January.
Output from Teck's refinery in Trail, B.C., includes zinc, lead and specialty metals like germanium, indium, and sulphur products.
Price said the company exports most of its copper and zinc concentrates to Asia and Europe and so would avoid the proposed 25 per cent tariffs on Canadian goods, which are on pause until March 4.
He said that while Teck is one of the largest suppliers outside of China of the group of metals, they make up less than 15 per cent of company revenue.
The threat of tariffs is also risking wider trade and economic disruptions, but Teck expects that trends like urbanization and electrification will underpin demand for its main products.
"Globally, we are witnessing a period of significant economic uncertainty and change that will alter trade flows and potentially impact global supply chains and market dynamics," Price said.
"Teck has a resilient business driven by the diversification of our products and operations."
Revenue for the quarter totalled $2.8 billion, up from $1.8 billion last year.
With files from CBC News