Articles for tag: billion, boost, Copper, earmarks, output, Teck

February 12, 2025

Ron Finklestien

mining

Teck Invests Up to $3.9 Billion to Enhance Copper Production

Teck Resources Charts Growth Path with Multinational Mining Expansions Teck Resources has laid out an ambitious plan focused on expanding its production capabilities through manageable key projects in Chile, Canada, Peru, and Mexico. Quebrada Blanca Expansion Paves the Way for Copper Production A significant element of Teck’s strategy is the Quebrada Blanca mine, where the company holds a 60% interest. The QB2 expansion achieved its first production milestone by March 2023, reaching design throughput rates expected by the end of 2024. In the fourth quarter of 2024, Quebrada Blanca contributed 60,700 tonnes of copper to Teck’s total record quarterly production

April 20, 2024

Ron Finklestien

mining

A New Era: Teck Coal and Yaq̓it ʔa·knuqⱡi ‘it First Nation Forge Stewardship Agreement for Elk Valley

A Groundbreaking Pact The agreement between Teck Coal and Yaq̓it ʔa·knuqⱡi ‘it First Nation signifies a monumental step towards cooperative efforts in promoting responsible mining and land stewardship in qukin ʔamakis, known to many as the Elk Valley in British Columbia. Commitments and Collaborations This stewardship accord outlines commitments for both entities, emphasizing the enhancement of Yaq̓it ʔa·knuqⱡi ’it’s capacity for stewardship projects that benefit the territory. It also highlights the joint efforts to advance governance and reconciliation initiatives that uphold the well-being of all ʔakanuxunik. Moreover, ongoing engagement and relationship-building under this agreement aim to bolster the region’s economic

March 28, 2024

Ron Finklestien

mining

New Blood: Teck’s Lindsay Headed to BHP Board

Stepping into a New Role Following 17 years at the helm of Teck Resources, Don Lindsay stepped down in 2022, only to resurface as Chair at Manulife Financial Corporation. BHP’s Chair, Ken MacKenzie, remarked, “Don brings a robust focus on global resource development, growth, and value creation, along with a commitment to community health, safety, and education. We eagerly anticipate Don’s arrival on the Board on May 1, 2024.” Insight: Video featuring Don Lindsay’s thoughts on Glencore’s pursuit of Teck and considerations on resource nationalism.

March 19, 2024

Ron Finklestien

mining

Rebuttal Unveiled: Teck Denies Allegations on Elk Valley Cleanup Costs

Long-Standing Selenium Woes Haunt Teck For Teck, the specter of selenium – a naturally occurring fish-toxic element – seeping from waste rock piles surrounding its coal mines has lingered ominously for decades. The repercussions of this environmental hazard are grave yet multifaceted. Teck Counters Accusations In response to Reuters, Teck vehemently disputed the estimates put forth by Wildsight, dismissing them as flawed and incongruent with British Columbia government guidelines. Dale Steeves, Teck’s director of stakeholder relations, stood by the company’s assertions, highlighting discrepancies in the calculations proposed by the environmental group. Financial Figures under Scrutiny The report, authored by consulting

January 4, 2024

Ron Finklestien

mining

Teck’s Strategic Shift: Exiting Coal, Navigating Lower Copper Output in Chile Teck’s Strategic Shift: Exiting Coal, Navigating Lower Copper Output in Chile

Posco traded its interest in two of Teck’s coal operations for a 3% stake in the overall steelmaking coal business. The transactions are part of an umbrella deal inked with Glencore (LON: GLEN) in November 2023, involving the Swiss miner and commodities trader paying $6.9 billion for 77% of Elk Valley Resources. The agreement with Glencore, which capped negotiations and takeover attempts initiated by the Baar-based firm, awaits regulatory review and is anticipated to finalize in the third quarter of 2024. Challenges in Copper Production Canada’s largest diversified miner highlighted a lower than anticipated 2023 production at Quebrada Blanca (QB),