Teck is seen as a logical merger partner, in particular for Anglo American or Vale SA’s base-metals business.
Coldelco has said this year's output should top the 1.325 million tons produced last year.
Revenue from auctions was down 17% to $121 million for the first six months of 2024, from $145 million a year earlier.
Drilling is focused on two targets comprising shallow, highly conductive electromagnetic anomalies.