Canadian diversified miner Teck Resources has posted record third-quarter results, helped by strong commodity prices, particularly for steelmaking coal.

Adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) were a record C$2.1-billion in the third quarter – more than triple the same period last year.

Profit attributable to shareholders was C$816-million, or $1.53 a share, and adjusted profit attributable to shareholders was C$1-billion, or $1.91 a share, more than seven times higher than the same period last year.

The Vancouver-based miner’s revenue surged 73% year-on-year to C$3.97-billion.

“The extremely favourable commodity price environment – particularly for steelmaking coal – combined with solid operational performance resulted in record quarterly adjusted Ebitda and record adjusted profit in the third quarter,” president and CEO Don Lindsay reported on Wednesday.

Prices for all its principal products increased in the third quarter.

Teck sold 5.9-million tonnes of steelmaking coal in the quarter, nearly one-third of which was sold to China, priced at a premium to FOB Australia prices. The FOB Australia prices increased sharply in the latter half of the second quarter and continued to increase to unprecedented levels through the third quarter. The increase in steelmaking coal prices between the second and third quarters resulted in pricing adjustments of $162-million ($103-million, after-tax) in the third quarter.

The copper business’ gross profit more than doubled, supported by an average realised copper price of $4.28/lb and copper production of 70 700 t.

Red Dog’s zinc sales volumes were 162 000 t, despite a delayed start to the shipping season owing to ice conditions and weather-related delays. Refined zinc production from the Trail Operations was 73 100 t, about 3 300 t lower than a year ago, owing to a temporary shutdown of the oxygen plant during the quarter.

Teck kept its full-year production guidance unchanged at 275 000 t to 290 000 t of copper, 605 000 t to 630 000 t of zinc and 285 000 t to 290 000 t of refined zinc. Its steelmaking coal production guidance is 25-million to 26-million tonnes and its bitumen guidance is 6.6-million to 8.1-million barrels.