Teck Resources Ltd. raised its guidance on costs this year, citing inflationary pressure on diesel and other input costs.

The Canadian mining company lowered its forecast for steelmaking coal production for 2022.

Teck raised its 2022 guidance on copper net cash unit costs to $1.48 to $1.58 a pound, from its previous forecast of $1.40 to $1.50 a pound, and zinc net cash unit costs to 37 cents to 43 cents a pound, versus 32 cents to 38 cents previously.

The company maintained its guidance for steelmaking coal transportation costs at 43 to 46 Canadian dollars (US$33.37 to US$35.70) a metric ton.

"Like others in the industry, we continue to face inflationary cost pressures, which have increased our operating costs by 14% compared to the same period last year, approximately half of which relates to diesel costs at our operations and in our transportation costs. Diesel prices have increased by 75% compared to the same period last year," Teck said.

"The increases in the cost of certain key supplies, including mining equipment, fuel, tires and explosives, are being driven largely by price increases for underlying commodities such as steel, crude oil and natural gas.

"While our underlying key mining drivers remain relatively stable, inflationary pressures on diesel prices and other key input costs, as well as profit-based compensation and royalties continue to put upward pressure on our unit cost guidance through 2022."

The company said it expects to produce 23.5 million to 24 million metric tons of steelmaking coal in 2022, down from its previous forecast of 24.5 million to 25.5 million tons.

It maintained its guidance for copper production at 273,000 to 290,000 metric tons, zinc at 630,000 to 665,000 metric tons, refined zinc at 270,000 to 285,000 metric tons, and bitumen at 12 million to 14.4 million barrels.

Write to Mary de Wet at mary.dewet@dowjones.com

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