Teck Resources Limited (listed as TECK, TECK_A.TO, TECK_B.TO) has announced its upcoming Strategy Day on November 5, 2024, where it will unveil its latest plans to enhance value for both shareholders and stakeholders. A key focus of this briefing will be the company's strategic investment plan aimed at significantly increasing copper production to 800,000 tonnes annually by the close of the decade.
Teck Resources intends to allocate between $3.2 billion and $3.9 billion over the next four years towards advancing four principal copper projects. This substantial investment is projected to elevate copper production to around 800,000 tonnes per year. The projects include the optimization and debottlenecking of Quebrada Blanca (with Teck holding a 60% stake, located in Chile), the extension of the Highland Valley Copper Mine's operational lifespan (fully owned by Teck and situated in Canada), the development of the Zafranal Project (in which Teck holds an 80% interest, based in Peru), and the San Nicolás Project (with Teck owning a 50% share, in Mexico).
The company highlighted that this growth strategy is rooted in Teck's solid history of copper production. Output is set to increase from 297 kilotonnes in 2023 to an estimated range of 420 to 455 kilotonnes in 2024 and is anticipated to rise further to between 510 and 590 kilotonnes by 2025.
