“Teck is uniquely positioned in our industry, with the ability to deliver transformative near-term copper growth,” said Jonathan Price, president and CEO, Teck Resources. “We are executing on a disciplined strategy to grow copper production by advancing our portfolio of lower capital intensity, high-returning projects in stable jurisdictions.”

Teck plans to invest $3.2 to $3.9 billion over the next four years to develop four key near-term copper projects. The projects include an investment of $1.3 to $1.4 billion to extend the life of Highland Valley Copper (137,000 mt/y copper) to the mid-2040s; a $100 to 200 million optimization program at Quebrada Blanca in Chile, which could increase production by a further 15% to 25%; a $1.5 to $1.8 billion investment in the Zafranal project in Peru (126,000 mt/y copper), and a $300 to $500 million investment in the San Nicolás Project in Mexico. The project would have an estimated production of 63,000 mt/y copper and 147,000 mt/y zinc over the first five years.