$TECK

Canadian mining stocks fell sharply as silver and gold prices dropped over 5% and 3%, respectively. Barrick Gold, Wheaton Precious Metals, and others declined 2-4%, with First Quantum Minerals falling the most. The selloff was driven by commodity-market volatility and concerns over inflation and interest rates, impacting both producers and streaming/royalty companies.

Teck Resources (TSX: TECK.A/B, NYSE: TECK) will release its Q3 2026 earnings on October 29, 2026, before market open. The company will host a webcast and Q&A session at 8:00 a.m. PT. Teck is a Canadian resource company focused on copper and zinc operations.

China's antitrust regulator, SAMR, is demanding Anglo American commit to supplying steady copper concentrate to China for its merger with Teck Resources to be approved. This reflects China's struggle to meet its copper smelting industry's needs. Anglo American reports progress in negotiations, while analysts note potential impacts on global copper markets. The merger, announced in 2025, still requires China's approval and is expected to close by March 2027.

CIBC's chief market technician Sid Mokhtari released his top 10 stock picks for October, including Gibson Energy (GEI-T), Suncor (SU-T), Nutrien (NTR-T), Constellation Software (CSU-T), Shopify (SHOP-T), Finning International (FTT-T), Bank of Nova Scotia (BNS-T), and Northland Power (NPI-T). His portfolio has outperformed the S&P/TSX Composite Index over the past four years, with a 9.29% YTD return. The TSX declined 2.85% in September, with tech as the only positive sector.

Copper prices rose for a sixth day, nearing record highs, due to Chinese stockpiling and shrinking inventories in Shanghai and London. Comex copper hit $6.8370 per pound, while LME copper reached $14,766 per tonne. Copper stocks in Shanghai fell 70% since June. Miners like Freeport-McMoRan and Southern Copper saw gains, recovering some September losses.

Kay Copper Corp. filed a TSXV listing application for its proposed transaction with Kodiak Copper and Teck Resources, creating a US-focused copper exploration company. The deal involves asset exchanges and financing, with completion expected in October 2026, subject to conditions. Kay Copper raised C$5.37M from subscription receipts at $0.25 each. Post-transaction, Kay Copper's capital structure will include significant stakes from Kodiak and Teck.

Teck Resources Ltd. CEO Jonathan Price called for increased investment in mining infrastructure, highlighting areas like the Ring of Fire and Golden Triangle. He emphasized the need for better electricity grids, transportation, and port access. Prime Minister Mark Carney discussed streamlining project approvals to attract investment. Cameco Corp. and Agnico Eagle Mines Ltd. CEOs also participated, with Agnico's CEO noting potential challenges in permitting processes.

Copper prices stabilized on Friday, with LME copper at $14,233/tonne and US copper at $6.55/pound. Copper-tracking fund CPER rose 0.36%. Southern Copper and Freeport-McMoRan slipped slightly, while Nexa Resources and Teck Resources gained. The market reacted to a stalled US tariff proposal on refined copper, which had previously driven a rally. Chile and Peru remain key copper producers, with Chile expecting a 2.6% output decline in 2026. Upcoming events include China's industrial production dat

S&P Dow Jones will update eligibility rules for Canadian S&P/TSX indices, potentially allowing Anglo-Teck, a future copper producer formed by Anglo American and Teck Resources, to be included. The new rules, effective December 21, 2026, permit foreign issuers with significant Canadian ties to join, even if not legally incorporated there. Anglo-Teck, headquartered in Canada, is expected to qualify.

S&P Dow Jones Indices will now allow foreign-domiciled companies with significant Canadian exposure to join S&P/TSX indexes. The change, effective December 2026, includes full float-adjusted market-cap weighting. Teck Resources (TECK) will remain in TSX indexes post-merger with Anglo American (AAL.L).