Teck Resources Limited has initiated a comprehensive review of its operations, focusing on improving performance and implementing a detailed action plan for its Quebrada Blanca (QB) operation. The review, which began in August, aims to identify ways to enhance operating practices and ensure future business plans are achievable. It includes assessments by third-party experts and will conclude by October 2025, with updates expected alongside Teck’s third-quarter results.
As part of the review, Teck has brought on an industry veteran as Special Advisor to the CEO to help accelerate development of the QB tailings management facility (TMF) and drive operational improvements. The company will also defer approval of major growth projects until QB achieves steady-state operations and meets ramp-up targets.
The QB action plan addresses issues with slow sand drainage that have affected TMF development and production levels. Steps include raising the tailings dam wall through construction of additional rock benches, modifying cyclone facilities to improve removal of fine materials, testing coarser grind sizes in mills, and refining sand placement techniques. Modifications to the cyclone facility are expected by December 2025.
A trial evaluating coarser grind size was conducted following successful test work in July. Other initiatives focus on strengthening execution at QB through direct support from a newly onboarded advisor with over 30 years’ experience in Chilean mining operations.
Teck is also reviewing planning, forecasting, and reconciliation processes across its mine, plant, and port activities to improve operational readiness and manage risk during ramp-up phases.
Leadership changes were announced as well: Senior Vice Presidents of Operations for Latin America and North America will now report directly to the President and CEO. Shehzad Bharmal, Executive Vice President and Chief Operating Officer, has retired after 33 years with Teck. “Over his 33-year career with the company, Shehzad made significant and lasting contributions to Teck’s operations and leadership. We thank him for his dedication and service.”
The company noted that forward-looking statements regarding these initiatives involve risks related to operational performance, timing of project developments, cost estimates, commodity prices, supply chain factors, weather conditions, labor availability, equipment procurement timelines as well as other uncertainties. For further details about risks associated with these plans or Teck’s business generally—including annual filings—investors can visit www.sedarplus.ca or www.sec.gov under Form 40-F.
Teck is headquartered in Vancouver with shares listed on both the Toronto Stock Exchange (TECK.A/TECK.B) and New York Stock Exchange (TECK). The company operates copper and zinc mines across North America and South America.
