Teck Resources Limited

Teck Resources Limited is a Canada-based diversified mining company, recognized as a leading provider of critical metals essential to global economic development and the energy transition. Teck's refined portfolio focuses on copper and zinc, positioning it as a premier producer of energy-transition metals that power sustainable development across sectors. Teck's copper operations, spanning several high-quality assets in the Americas, place it among the world’s top 10 copper producers, while its zinc operations make it the largest net zinc miner globally.

Teck recently completed a strategic transformation, exiting its steelmaking coal business to focus exclusively on base metals, aligning with its vision to become a leader in responsibly sourced energy-transition materials. 

With major capital investments in growth projects such as the Quebrada Blanca Phase 2 (QB2) project in Chile, Teck is well on its way to expanding its copper production capacity by 30% by 2028. The company is publicly traded on the Toronto Stock Exchange (TSX: TECK.A and TECK.B) and the New York Stock Exchange (NYSE: TECK), bolstered by a robust management team and a solid balance sheet that positions it to execute on its growth and sustainability commitments.

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Teck Resources Limited represents a compelling opportunity for investors seeking exposure to energy-transition metals in stable, mining-friendly jurisdictions. With its streamlined focus on copper and zinc, Teck is strategically positioned to benefit from surging demand for metals vital to renewable energy, electric vehicles, and infrastructure development. 

The completion of QB2—a state-of-the-art copper asset—is expected to double Teck’s copper production and create substantial value over the asset’s lifecycle. Teck’s plans for expanding its copper production through further optimization, mine life extensions, and greenfield projects provide additional growth potential, supported by favorable long-term market fundamentals for copper.

Teck’s disciplined capital allocation framework prioritizes growth alongside significant cash returns to shareholders, with a commitment to returning 30-100% of available cash flow through dividends and buybacks. Additionally, the company’s strong cash flow, robust balance sheet, and recent transformation into a pure-play base metals company reduce its risk profile while enhancing its capacity to capitalize on new opportunities. With its emphasis on sustainable mining practices, engagement with local communities, and environmental stewardship, Teck Resources is positioned to deliver resilient growth and create long-term value for shareholders.

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Teck Resources Limited is led by a highly experienced management team with a strong track record in mining operations, sustainable development, and value creation. CEO Jonathan Price, who assumed leadership in 2022, brings decades of expertise in mining finance and strategic leadership, guiding Teck’s transformation into a pure-play metals company focused on the energy transition. He is known for driving operational excellence and enhancing shareholder value across complex mining operations globally.

The financial strategy of Teck is steered by CFO Crystal Prystai, who brings extensive experience in global finance, resource management, and corporate restructuring. Prystai’s disciplined approach to capital allocation has strengthened Teck’s balance sheet, enabling the company to fund large-scale projects while maintaining a robust financial position. 

Shehzad Bharmal was appointed Executive Vice President and Chief Operating Officer in 2024, with responsibility for overseeing Teck’s operations across the North America and Latin America (LATAM) regional business units. He also leads Teck’s Technical and Health and Safety functions.

Together, this accomplished leadership team, supported by a seasoned Board of Directors with expertise in mining, finance, and environmental policy, is advancing Teck’s vision to be a leading producer of essential metals for the global energy transition.

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Teck Resources Limited is executing a dynamic growth strategy aimed at expanding its production of copper and zinc to meet the increasing demand for energy-transition metals. Central to this strategy is the Quebrada Blanca Phase 2 (QB2) project in Chile, which recently reached completion and is expected to double Teck’s copper production, transforming it into one of the world’s top 10 copper producers. Building on this momentum, Teck plans to further increase copper output by 30% by 2028 through a blend of near-term optimization projects, mine life extensions, and exploration of new growth options.

As part of its long-term vision, Teck is committed to environmental stewardship, aiming to reduce its carbon footprint and contribute to a low-carbon economy by investing in energy-efficient technologies and integrating renewable energy into its operations.

With its strong asset base, access to advanced mining infrastructure, and focus on responsible growth, Teck is well-positioned to capture rising demand in the copper and zinc markets. Through disciplined development and a commitment to sustainability, Teck Resources Limited aims to generate long-term value for its shareholders while contributing to the global energy transition.

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Teck Resources Limited has a robust financial foundation, with strong cash reserves and a streamlined asset portfolio focused on base metals. As of mid-2024, Teck holds $8.7 billion in cash, having strategically reduced debt through the sale of its steelmaking coal business, Elk Valley Resources (EVR), which generated $7.3 billion in proceeds. This transaction positions Teck with a net cash balance, reducing financial risk while enhancing its capacity to fund growth projects. Teck’s capital allocation strategy prioritizes maintaining investment-grade credit metrics, shareholder returns, and disciplined growth investments.

With the Quebrada Blanca Phase 2 (QB2) project complete, Teck expects an increase in operating cash flow from doubled copper production, driving significant EBITDA and supporting shareholder returns. 

Teck has committed to returning 30-100% of available cash flow through dividends and buybacks, aiming to deliver value to shareholders while advancing low-cost, value-accretive growth in copper and zinc production. This balance of growth investment and cash returns, combined with a focus on operational efficiency, positions Teck Resources as a financially resilient leader in energy-transition metals.

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Teck Resources Limited is positioned as a leader in supplying essential metals for the global energy transition. Through its streamlined focus on copper and zinc, Teck has successfully transformed into a pure-play base metals company, aligning its vision with the demand for responsibly sourced minerals. The completion of the Quebrada Blanca Phase 2 project and Teck’s comprehensive growth strategy place it among the top global copper producers, with further production growth anticipated by 2028.

With a strong financial foundation, disciplined capital allocation, and a commitment to environmental stewardship, Teck Resources offers a unique investment opportunity for those seeking exposure to energy-transition metals in stable jurisdictions. The company’s dedication to sustainable growth, shareholder returns, and industry-leading operational practices makes it a resilient and attractive choice for long-term value.

As Teck advances through key milestones in its copper and zinc projects, it remains focused on delivering strong returns while supporting the low-carbon economy. For investors looking to participate in the energy transition through an established, environmentally responsible mining company, Teck Resources Limited stands out as a sound and strategic choice.

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