Tech Resources Loses 3 Trillion Won in a Day Amid Mining Stock Panic

Canadian miner Teck Resources Limited (TECK) plunged 7.6% on the New York market on the 23rd, falling to about $58.70 per share (roughly ₩90,000).

Its market capitalization shrank to approximately $28.3 billion (about ₩44 trillion), erasing nearly $2 billion (around ₩3.1 trillion) in a single day.

Analysts say today’s sell-off reflects broad profit-taking and risk-off sentiment across the mining and commodities sector rather than any company-specific setback.

Recently, Teck completed the sale of its remaining 77% stake in its steelmaking coal business to Glencore, accelerating a portfolio shift toward non-ferrous metals such as copper and zinc.

Meanwhile, its roughly $50 billion merger with Anglo American has cleared both shareholder and Canadian government approvals. Once finalized, the combined entity—dubbed “Anglo-Teck”—is expected to rank among the world’s leading copper producers.

Headquartered in Vancouver, Teck Resources is Canada’s flagship mining company, expanding production of the key metals needed for the energy transition, particularly copper and zinc.

Thanks to the expansion of the Quebrada Blanca copper mine in Chile and forecasts of long-term copper supply shortages, Teck has been viewed as a beneficiary of the “copper momentum.” However, in the short term it remains sensitive to volatility across the global mining and commodities sector.