For investors in diversified miner Teck Cominco
Sales rose by 18%, thanks primarily to a large inventory work-off at the massive Red Dog lead/zinc mine in Alaska. Lundin Mining's
Results from the Elk Valley Coal partnership with Fording Canadian Coal
Overall, Teck's operating profit ticked 2% higher, and adjusted net earnings rose by 9%. As I said, that's decent enough, but it's the currency conundrum that makes me think twice about tapping Teck for my team. All of the company's dollar hedges have expired, and I have a hard time understanding how that's a sensible move, given that Teck's earnings are more than twice as sensitive to exchange rates than to any commodity it sells.