Teck Resources To Outline Growth Strategy And Copper Production Goals At 2024 Strategy Day

Teck Resources

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(RTTNews) - Teck Resources Limited (TECK, TECK_A.TO, TECK_B.TO) said it will present its strategy for creating value for shareholders and stakeholders at its 2024 Strategy Day on November 5. The company will also detail its disciplined investment plan to boost copper production to 800,000 tonnes per year by the end of the decade.

Teck Resources plans to invest between US$3.2 billion and US$3.9 billion over the next four years to advance four key near-term copper projects. This investment is expected to drive copper production to approximately 800,000 tonnes per year (ktpa). The four projects include: Quebrada Blanca (QB) optimization and debottlenecking (Teck 60% ownership, Chile), Highland Valley Copper Mine Life Extension (Teck 100% ownership, Canada), the Zafranal Project (Teck 80% ownership, Peru), and the San Nicolás Project (Teck 50% ownership, Mexico).

The company noted that the growth strategy builds on its strong track record of copper production, with output increasing from 297 kilotonnes (kt) in 2023 to an estimated 420-455 kt in 2024, and projected to reach 510-590 kt in 2025.