UPDATE 1-Teck profit misses estimates as coal, copper prices stay weak
(Adds details on oil prices, background)
Feb 12 (Reuters) - Canadian miner Teck Resources Ltd's quarterly profit missed analysts' estimates as the company struggles with weak coal and copper prices.
Net profit attributable to shareholders nearly halved to C$129 million ($102.7 million), or 23 Canadian cents per share, in the fourth quarter ended Dec. 31.
Adjusted profit was 20 Canadian cents per share, below analysts' average estimate of 22 Canadian cents, according to Thomson Reuters I/B/E/S.
Operating costs rose about 1 percent to C$888 million.
The company, which derives more than a third of its revenue from coal sales, also mines zinc.
Teck, whose mining operations use a significant amount of diesel fuel, said every $1 per barrel drop in the price of crude oil reduces its operating costs by about C$5 million.
However, the plunge in oil prices since June will also likely hurt the company.
Teck is investing C$2.9 billion for a 20-percent stake in the massive Suncor-controlled Fort Hills oil sands mine. Continuación...