Teck unveils operations overview with focus on QB copper mine in Chile

Teck Resources Ltd. (TECK.B-TSX, TECK.A-TSX, TECK-NYSE) has announced details of a comprehensive operations review and action plan for its key Quebrada Blanca (QB) copper mining operation in Chile. A key aim is to position QB for long-term, reliable performance.

The Vancouver-based mining giant said key components of the action plan include:

• A comprehensive operations review, launched in August 2025, which is focused on improving performance with a detailed QB action plan, identifying opportunities to enhance operating practises, and reinforcing confidence that future business plans are both reasonable and achievable.
• The company has onboarded an industry veteran as Special Advisor to the CEO to help accelerate QB tailings management facility (TMF) development and drive operational performance.
• Defer sanctioning of major growth projects until QB achieves steady-state operations and ramp-up targets.

The company said the comprehensive operations review, includes a detailed assessment of operating plans, input from third party experts, and rigorous execution tracking. The review is expected to conclude by October 2025, with resulting updates to previously disclosed guidance communicated no later than Teck’s third quarter results.

To strengthen executive oversight of operational activities and drive operating performance across the business, the senior vice-presidents of operations for both Latin America and North America will now report directly to the President and CEO.

Meanwhile, the following QB action plan is in progress and focuses on identifying and implementing solutions to address slow sand drainage, which has impacted the pace of TMF development and constrained production. The action plan includes targeted steps to enable ramp-up, accelerate sand drainage, and strengthen execution at QB.

Teck said its near-term priority is to enable unconstrained production by mechanically raising the tailings dam wall and increasing crest height. It said this is being done through construction of additional rock benches to minimize downtime in the concentrator, while work crews pursue improvements to the sand drainage.

The company said significant work has been undertaken through 2025 to improve sand drainage times; however, it said further progress is needed to reach design targets. In keeping with that goal, several initiatives are underway to accelerate drainage performance, including:

• Modification to the cyclone facility in consultation with cyclone manufacturers and third-party experts to improve the removal of fines and ultra-fines, which are currently limiting sand drainage rates. This is expected to be implemented by December 2025.
• A trial to evaluate coarser grind size in the mills following successful test work in July.
• Refinement of sand placement techniques to further improve drainage efficiency.

Beyond the TMF-specific initiatives, Teck is committed to positioning QB operations for long-term, reliable performance. This includes validating an executable mine plan and optimizing performance across the mine, plant and port. Through a comprehensive review of site operations, Teck is proactively managing risk to support a successful ramp-up and ensure consistent delivery to design capacity.

Teck’s Class B common advanced on the news, rising 2.7% or $1.27 to $47.53. The shares trade in a 52-week range of $72.92 and $40.23.