Canada’s largest diversified miner saw its quarterly profit drop 41.5 % from the year earlier, amid lower prices for copper, zinc and oil.
Teck Resources Mining News
EBITDA will be down by about $148 million.
A research report by Wood Mackenzie states that electrification and automation will be a key priority for global mining companies.
We expect more companies to unveil energy transition blueprints in 2019.
Production of the red metal, the agency says, could reach a record of 7.25 million tonnes as early as 2025.
The company reports the region hosts a large geological endowment and supports numerous operating mines.
The report does have a caveat.
The expansion of the mine, which will require an estimated investment of $4.7 billion, is set to start producing in 2021 and could double Teck’s copper business.
Sumitomo Metal Mining and Sumitomo Corp. will pay $800 million earn-in contribution and $400 million matching contribution for a third of Teck's 90% interest in Quebrada Blanca mine.
Canada’s largest diversified miner is also studying a Phase 3 for Quebrada Blanca, which would double the mine’s capacity to 600,000 tonnes of copper a year from the 300,000 it’s expected to achieve once Phase 2 is completed.
Canada’s largest diversified miner has been looking for a development partner for the $4.8-billion extension of Quebrada Blanca copper mine in northern Chile.
Smaller mines and developers who previously found capital through retail investors in public markets are increasingly turning to specialist investors.
Horizonte plans to raise $443 million to begin construction on the mine in the middle of 2019, production slated for late 2021.
But Teck Resources says it will have the most advanced emission-control system in oil sands.
Other companies interested in partnering with Teck include Freeport-McMoRan, China’s Aluminum Corp of China (Chinalco) and Canada’s base metals miner Lundin Mining.
Canada's largest diversified miner said that before beginning the copper mine upgrade, it would have to secure a development partner able to invest $2billion for up to 30% to 40% stake in the project.
Can soil from an old, large stockpile still retain viable organics for successful site reclamation?
The province’s businesses grapple with the challenge of rising costs, threats to natural resources and changes in consumer spending patterns.
The world's second-biggest exporter of steelmaking coal stuck to its annual production forecast of 26 million to 27 million tonnes.
Teck displayed some of its high-tech approaches to mining at the recent B.C. Tech Summit.
The project joins two mines - one belonging to Goldcorp and the other to Teck Resources.
Megastar Development wants to buy the Rama de Oro project located in the state of Oaxaca.
The most recent data available from the Alberta Energy Regulator — for December 2017 — shows Fort Hills at 11,525 bbls/d.
Teck, which also mines copper, zinc and gold, said adjusted profit attributable to shareholders rose to C$753 million.