Teck will hold a conference call for Teck’s 2020 Investor and Analyst Day. The QB2 Update and Business review will take place from 1:00 p.m. to 2:00 p.m. Eastern/10:00 a.m. to 11:00 a.m. Pacific time.
The company will hold an investor conference call to discuss the fourth quarter 2018 earnings results at 11:00 a.m. Eastern time / 8:00 a.m. Pacific time on Wednesday, February 13, 2019. The conference call dial-in is 647.484.0475 or toll free 888.394.8218, no pass code required. Participants will be asked to provide the Operator with the confirmation code 6235586 when dialling in. Media are invited to attend on a listen-only basis.
The company will hold an investor conference call to discuss the first quarter 2018 earnings results at 11:00 a.m. Eastern time / 8:00 a.m. Pacific time on Tuesday, April 24, 2018. The conference call dial-in is 416.340.2216 or toll free 866.225.0198, no pass code required. Media are invited to attend on a listen-only basis.
Teck will release its second quarter 2021 earnings results on Tuesday, July 27, 2021 before market open. The company will hold an investor conference call to discuss the second quarter 2021 earnings results at 11:00 a.m. Eastern time / 8:00 a.m. Pacific time on Tuesday, July 27, 2021. The conference call dial-in is 416.340.2217 or toll free 800.806.5484, quote 9945185 if requested. Media are invited to attend on a listen-only basis.
Teck Resources Limited President and Chief Executive Officer Don Lindsay and members of Teck’s senior management team will be presenting on Tuesday, September 21, 2021 from 1:00 p.m. to 4:30 p.m. Eastern / 10:00 a.m. to 1:30 p.m. Pacific time at Teck’s virtual Investor and Analyst Day.
BMO Capital Markets 29th Annual Global Metals & Mining ConferenceTeckResourcesLtd
eck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) President and Chief Executive Officer, Don Lindsay will be presenting at the BMO Capital Markets 29th Annual Global Metals & Mining conference on Monday, February 24, 2020 at 11:30 a.m. Eastern/8:30 a.m. Pacific time. The investor presentation will include information on company strategy, financial performance, and outlook for the company’s business units.
Teck Resources Limited President and Chief Executive Officer, Don Lindsay will be presenting at the Morgan Stanley Virtual 8th Annual Laguna Conference on Thursday, September 17, 2020 at 11:15 a.m. Eastern/8:15 a.m. Pacific time. The investor presentation will include information on company strategy, financial performance, and outlook for the company’s business units.
Teck provided an overview of its key priorities which included continuing construction of QB2, its innovation program RACE21 to achieve $1B in EBITDA improvements by 2021, upgrading its Neptune facility to secure steelmaking coal supply, and implementing a $1B cost reduction program. It also discussed the value of QB2 as a long-life, low-cost copper opportunity that will rebalance Teck's portfolio over time and potentially become a top five global copper producer. COVID-19 has caused some schedule impacts for RACE21 and other projects but Teck is maintaining its targets while operations resume.
Teck Resources Limited President and Chief Executive Officer, Don Lindsay and members of Teck’s senior management team will be presenting on Monday, November 1, 2021 from 1:00 p.m. to 2:00 p.m. Eastern / 10:00 a.m. to 11:00 a.m. Pacific time at Teck’s virtual QB2 Site Visit.
Ron Millos, SVP Finance and Chief Financial Officer and Andrew Golding, SVP Corporate Development, Teck Resources Limited, will be presenting at the CIBC Whistler Institutional Investor conference on Thursday, January 24, 2019 at 5:35 a.m. Eastern/8:35 a.m. Pacific time.
This document contains forward-looking statements regarding various investor meetings from March 3-6, 2020. It cautions that actual results may differ materially from projections due to known and unknown risks and uncertainties. Key projections discussed include expectations for Teck's RACE21 innovation program, the QB2 copper project, goals for carbon neutrality by 2050, production guidance, and assumptions regarding commodity prices and market conditions.
BMO Capital Markets 28th Annual Global Metals & Mining ConferenceTeckResourcesLtd
Teck Resources Limited President and Chief Executive Officer, Don Lindsay will be presenting at the BMO Capital Markets 28th Annual Global Metals & Mining Conference on Monday, February 25, 2019 at 10:00 a.m. Eastern/7:00 a.m. Pacific time. The investor presentation will include information on company strategy, financial performance, and outlook for the company’s business units.
- Teck is well positioned for growth due to strong demand for metals and minerals driven by decarbonization, its industry leading copper growth assets, and its focus on safety, sustainability and operational excellence.
- Demand for copper is accelerating due to investments in electrification infrastructure needed for renewable energy and electric vehicles, with copper demand projected to grow at a 26% compound annual rate to 2030.
- While the magnitude of long-term steelmaking coal demand depends on the pace of decarbonization, seaborne supply growth is constrained, indicating robust demand for high-quality steelmaking coal like Teck's.
Teck Resources Limited President and Chief Executive Officer Don Lindsay will be presenting at BMO Capital Markets’ 31st Annual Global Metals & Mining conference on Monday, February 28, 2022 at 2:00 p.m. Eastern/11:00 a.m. Pacific time.
Teck Resources Limited President and Chief Executive Officer Don Lindsay, will be participating in a fireside chat at the 25th Annual CIBC Western Institutional Investor conference on Thursday, January 20, 2022 at 11:15 a.m. Eastern/8:15 a.m. Pacific time.
The investor presentation will include information on company strategy, financial performance, and outlook for the company’s business units.
- Teck Resources reported lower revenue and earnings in Q2 2020 due to impacts from COVID-19, including reduced demand and prices for its products.
- Construction at the QB2 project has resumed with gradual ramp up of workforce towards pre-suspension levels. Guidance on cost and schedule impacts depends on length of suspension period and ramp up.
- Teck remains focused on improving margins in its steelmaking coal business through cost reductions and decreasing strip ratios, not higher volumes. Guidance provided for H2 2020 production and costs.
The document discusses forward-looking statements made in investor presentations regarding Teck Resources Limited. It cautions that actual results may differ from projections due to various risks and uncertainties. It lists numerous assumptions made regarding general economic conditions, commodity prices, production levels, cost assumptions, permitting, joint ventures, technology performance, and more. The document emphasizes that many statements are based on numerous assumptions and involve known and unknown risks that could cause actual results to vary materially.
Teck Resources Limited President and Chief Executive Officer Don Lindsay, will be participating in a fireside chat at the TD Securities Mining conference on Thursday, January 27, 2022 at 11:10 a.m. Eastern/8:10 a.m. Pacific time.
Teck Resources provided an overview of their investor meetings in November 2021. The document contained forward-looking statements regarding Teck's strategy, projects, and financial outlook. It discussed Teck's goal of doubling copper production by 2023 through the development of the QB2 project. It also noted the strong long-term demand for steelmaking coal and Teck's position as a leading producer. The document cautioned that actual results could differ materially from the forward-looking statements due to various risks and uncertainties.
Teck’s Investor and Analyst Day and Teck’s Annual Sustainability Performance ...TeckResourcesLtd
Teck President and Chief Executive Officer, Don Lindsay and members of Teck’s senior management team will be presenting in Toronto, Canada on Wednesday, April 3, 2019 at Teck’s Investor and Analyst Day from 1:00 p.m. to 4:30 p.m. Eastern/10:00 a.m. to 1:30 p.m. Pacific time and Teck’s Annual Sustainability Performance Update will also take place from 11:00 a.m. to 12:00 p.m. Eastern/8:00 a.m. to 9:00 a.m. Pacific time.
The investor presentations will include information on company strategy, financial performance, and outlook for the company’s business units.
Teck Resources Limited President and Chief Executive Officer Don Lindsay will be participating in a fireside chat at the BofA Securities 2022 Global Metals, Mining & Steel conference on Wednesday, May 18, 2022 at 8:00 a.m. Eastern/5:00 a.m. Pacific time. The investor presentation will include information on company strategy, financial performance, and outlook for the company’s business units.
The document provides cautionary statements regarding forward-looking information presented in the Global Metals and Mining Conference investor presentation. It notes that actual results may differ materially from projected performance due to assumptions regarding commodity prices, production levels, costs, taxes, permitting, relations with employees and partners, and other economic and operational factors. The document outlines numerous risks to the assumptions including those related to the COVID-19 pandemic, commodity markets, regulations, climate change, and economic conditions.
This document provides supplemental information for a global metals and mining conference, including guidance, sensitivities, and operation expiry dates. It includes production, unit cost, capital expenditure, and water treatment guidance for 2023. It also outlines forward-looking statements and associated risks and uncertainties. Sensitivities estimate the effect of changes in exchange rates, commodity prices, and other factors on profit and EBITDA. Operation expiry dates through 2024 are also noted.
The document provides guidance and supplemental information for Teck Resources' Global Metals and Mining Conference, including production guidance, unit cost guidance, capital expenditure guidance, and sensitivities. Key details include 2023 copper production guidance of 390-445 kt, zinc production guidance of 645-685 kt, and steelmaking coal sales guidance of 24-26 Mt. 2023 capital expenditure guidance totals $1.79 billion with $1.65-2.2 billion allocated for the QB2 project. Water treatment guidance in 2023 is $220 million in capital and $3-5/tonne in operating costs. The document also outlines operation expiry dates through 2024.
The document summarizes key points from a Global Metals and Mining Conference presentation by Teck Resources. It discusses Teck's priorities of rebalancing its portfolio to focus on low-carbon metals like copper, operational excellence, long-term copper growth through projects like QB2, and industry-leading sustainability. It also announces the sale of Teck's 21.3% interest in the Fort Hills oil sands project for $1 billion in cash to advance its strategic rebalancing. Key Q3 2022 results highlighted include $2.4 billion in gross profit before depreciation and amortization and $1.9 billion in adjusted EBITDA.
Teck Resources Limited SVP and Chief Financial Officer Crystal Prystai, will be participating in a fireside chat at the 26th Annual CIBC Western Institutional Investor conference on Thursday, January 19, 2023 at 4:25 p.m. Eastern/1:25 p.m. Pacific time.
The investor presentation will include information on company strategy, financial performance, and outlook for the company’s business units.
Global Metals and Mining Conference investor presentation summarizes Teck's business, strategy, and outlook. Teck has a portfolio of copper, zinc, and steelmaking coal assets and is pursuing a copper growth strategy. It aims to balance growth, cash returns to shareholders, and sustainability leadership. Teck expects growing global demand for its commodities driven by decarbonization trends while supplies face challenges.
Global Metals and Mining Conference investor presentation summarizes Teck's business, strategy, and outlook. Teck is a diversified mining company and top 20 global copper producer with potential to become a top 10 copper producer through its copper growth pipeline. It also has significant zinc and steelmaking coal assets and sees growing demand for its commodities driven by the transition to a low-carbon economy. Teck is focused on execution, capital allocation, sustainability leadership, and delivering long-term shareholder value.
Teck Resources Limited will release its third quarter 2021 earnings results on Wednesday, October 27, 2021 before market open.
The company will hold an investor conference call to discuss the third quarter 2021 earnings results at 11:00 a.m. Eastern time / 8:00 a.m. Pacific time on Wednesday, October 27, 2021. The conference call dial-in is 416.340.2217 or toll free 800.806.5484, quote 1852700 if requested. Media are invited to attend on a listen-only basis.
Teck Resources Ltd. held a global metals and mining conference to present their investment proposition focused on industry-leading copper growth through their flagship Quebrada Blanca Phase 2 (QB2) project in Chile. The presentation highlights Teck's strategy of balancing growth through projects like QB2 with returning cash to shareholders. It also outlines Teck's leadership in sustainability including their goal of achieving net-zero global operations by 2050 and a 33% reduction in carbon intensity by 2030.
The document provides cautionary statements regarding forward-looking information in the presentation. It notes that actual results may differ materially from what is presented due to various assumptions involved in making production, cost, and other forecasts. Key assumptions include commodity prices, timely completion of projects, permitting and approvals, availability of key supplies and resources, and economic and market conditions. The document also lists various risk factors that could affect forward-looking statements, such as commodity prices, economic conditions, and uncertainties inherent in developing and operating mining projects.
- The company reported record adjusted profit attributable to shareholders of $1.8 billion in Q2 2022, over 5 times higher than Q2 2021, due to record high prices for copper, zinc and steelmaking coal.
- Construction at the QB2 project in Chile achieved several milestones in Q2 2022 and remains on track to deliver first copper in late 2022 or early 2023, pending any further impacts from COVID-19.
- While inflationary cost pressures increased costs across operations compared to Q2 2021, strong commodity prices drove record profitability across all business units for a fourth consecutive quarter.
BofA Securities 2023 Global Metals, Mining and Steel ConferenceTeckResourcesLtd
The document summarizes the Global Metals and Mining Conference hosted by Bank of America. It discusses Teck Resources' world-class portfolio of copper, zinc, and steelmaking coal assets. Teck aims to maximize value by doubling its copper production through the Quebrada Blanca Phase 2 project. It also outlines Teck's focus on sustainability and its strong financial position with investment grade credit ratings.
Teck Resources Limited Chief Executive Officer Jonathan Price, will be participating in a fireside chat at the Scotiabank Mining conference on Tuesday, November 29, 2022 at 8:30 a.m. Eastern/5:30 a.m. Pacific time.
The investor presentation will include information on company strategy, financial performance, and outlook for the company’s business units.
The document summarizes key points from a presentation at the Global Metals and Mining Conference on sustainability at Teck Resources. It discusses Teck's commitment to sustainability leadership, governance around sustainability issues, material sustainability topics, 2021 performance on health and safety and other issues, innovation initiatives, and goals for tailings management, climate change, and other areas. It also provides an overview of Teck's portfolio of metals and minerals, low carbon operations, and targets to reduce operational carbon emissions to achieve net zero by 2050.
This document provides an overview and introduction to Teck Resources Limited, a diversified resource company. It outlines Teck's business units which include copper, steelmaking coal, zinc, and energy. Copper is a focus for the company with its flagship Quebrada Blanca Phase 2 project expected to double consolidated copper production by 2023. Teck has a portfolio of projects that could grow copper equivalent production five times current levels. The company aims to rebalance its portfolio toward lower carbon metals while maintaining industry-leading profit margins and using cash flows to fund copper growth and returns to shareholders. Forward-looking statements are presented along with accompanying cautions.
Global Metals and Mining Conference investor presentation outlines Teck Resources' portfolio of world-class copper, zinc, and steelmaking coal assets. Teck aims to double its copper production by 2023 through the Quebrada Blanca Phase 2 project, and potentially double again by the end of the decade through its extensive copper growth portfolio. Teck also has high-quality steelmaking coal reserves that support over 30 years of production and generate strong margins through integrated low-cost operations. The company focuses on responsible production through ambitious sustainability targets and maintaining a robust financial position and investment grade credit ratings.
Similar to 2020 Investor and Analyst Day Conference Call (20)
The document is an investor presentation for a global metals and mining conference that outlines Teck Resources' strategy, operations, projects, guidance, and capital allocation framework. It discusses Teck's priorities of completing construction at the Quebrada Blanca Phase 2 copper project, advancing its copper growth pipeline, and completing the sale of its steelmaking coal business. It provides production and cost guidance for 2024, outlines Teck's capital spending reduction expected for 2024, and emphasizes its disciplined approach to copper growth opportunities and returning cash to shareholders.
The document provides supplemental information for a global metals and mining conference, including cautionary statements about forward-looking statements which note many risks and uncertainties that could cause actual results to differ materially. It also outlines the agenda topics to be covered which include guidance and reference materials, Teck's copper and zinc growth portfolio, mine life extension opportunities, zinc development options, business unit overviews, and market outlooks for copper, zinc and steelmaking coal. Non-GAAP financial measures and ratios will also be discussed.
The document is an investor presentation for a global metals and mining conference that discusses:
1) Teck Resources' strategy to maximize long-term shareholder value through copper growth, sustainability leadership, operational excellence, and disciplined capital allocation.
2) An update on the ramp up of their flagship Quebrada Blanca Phase 2 copper project and outlook for 2024.
3) Their portfolio of near-term copper development options including projects to extend mine life at existing operations and advance greenfield projects.
BMO Global Metals, Mining & Critical Minerals conferenceTeckResourcesLtd
The document is a presentation from the Global Metals and Mining Conference on February 26, 2024 by Jonathan Price, President and CEO of Global Metals. It discusses Teck's strategy to maximize long-term shareholder value by capitalizing on strong demand for metals in the transition to a low-carbon economy through sustainability leadership, balancing growth and returns to shareholders, unlocking value from copper growth projects, and operational excellence. Teck is a leading base metals producer, ranking among the top 10 copper producers in the Americas and as the largest net zinc miner globally, operating mines like Highland Valley Copper, Antamina, and Quebrada Blanca.
Q4 2023 Conference Call Presentation - February 22, 2024TeckResourcesLtd
The document provides an overview and summary of Teck Resources Limited's Global Metals and Mining Conference call for the fourth quarter of 2023. It discusses Teck's strong financial performance in Q4 2023 and full year 2023, with record adjusted EBITDA and profit. It also provides an operational update on Teck's major projects and businesses, including the ongoing ramp up of the QB copper mine which is progressing on schedule. Guidance is provided for 2024 production and costs across Teck's copper, zinc and steelmaking coal operations.
Global Metals and Mining Conference Investor Presentation provides an overview and outlook for Teck Resources. Key points include:
Teck aims to maximize long-term shareholder value through industry-leading copper growth, operational excellence, and balancing growth investments with cash returns to shareholders. Production guidance is provided for 2024-2027 with significant near-term copper growth from Quebrada Blanca ramping up. Capital expenditures are estimated between $2.4-2.9 billion Canadian dollars for 2024 with a focus on advancing the copper growth pipeline. Teck maintains a disciplined capital allocation framework to fund growth while returning a minimum of 30% of available cash flow to shareholders.
Teck Resources provided an investor presentation at the Global Metals and Mining Conference. Key highlights included: ramping up production at Quebrada Blanca to 230-275kt of copper in 2024; advancing a portfolio of copper growth projects through feasibility studies and permitting; and completing the sale of its steelmaking coal business to Glencore in Q3 2024 while retaining cash flows until closing. Teck also outlined its priorities of consistent QB performance, disciplined copper growth, executing the coal sale, optimizing operations, and disciplined capital allocation.
The document provides an investor presentation for a global metals and mining conference. It summarizes Teck's proposed sale of its steelmaking coal business to Glencore and other parties for total implied proceeds of $8.9 billion. Teck will retain interim cash flows from the business until the sale's expected closing in Q3 2024. Teck plans to use the proceeds to strengthen its balance sheet, return cash to shareholders, and position itself to realize value from its copper growth portfolio. The presentation also outlines Teck's strategy to focus on near-term development options for its copper assets that have lower scope and complexity than its recent Quebrada Blanca project.
The document discusses Teck Resources' proposed full sale of its steelmaking coal business to Glencore, Nippon Steel Corporation, and POSCO. Key points:
- Glencore will acquire a 77% stake in Elk Valley Resources for $9 billion. NSC will acquire a 20% stake for $8.5 billion. POSCO will exchange interests for a 3% stake.
- Total proceeds to Teck are estimated at $9.6 billion, including $1 billion in interim cash flows retained by Teck until closing.
- Teck will use proceeds to strengthen its balance sheet, return cash to shareholders, and fund its copper growth portfolio.
- The transaction supports Teck's strategy of
The document provides guidance and supplemental information for Teck Resources' Global Metals and Mining Conference, including production guidance for 2023 and 2024-2026, unit cost guidance, capital expenditure guidance, and sensitivities. Key highlights include 2023 copper production guidance of 330-375 kt, zinc production guidance of 645-685 kt, and steelmaking coal production guidance of 24-26 Mt. Total capital expenditures for 2023 are estimated at $2.77-3.14 billion and operating costs related to water treatment in the Elk Valley are estimated to be $3-5/tonne.
The document provides guidance and supplemental information for Teck Resources' Global Metals and Mining Conference, including production guidance for 2023 and 2024-2026 for copper, zinc, steelmaking coal and other metals. It outlines capital expenditure guidance for sustaining and growth projects, as well as sensitivities for profit and EBITDA based on changes in commodity prices, exchange rates and other factors. Water treatment guidance and expenditure estimates for steelmaking coal operations are also included.
The document discusses Teck Resources' proposed separation into Teck Metals and Elk Valley Resources to unlock shareholder value. It argues the separation creates two world-class pure-play companies, gives shareholders exposure to a premier base metals firm with significant copper growth potential, and allows investors to remain in steelmaking coal. The board recommends shareholders vote for the separation. Failure to approve limits strategic flexibility and value creation opportunities.
The document discusses Teck Resources' proposed separation into Teck Metals and Elk Valley Resources to unlock shareholder value. It argues the separation creates two world-class pure-play companies, gives shareholders exposure to a premier base metals firm with significant copper growth potential, and allows investors to remain in steelmaking coal. The board recommends shareholders vote for the separation. Failure to approve limits strategic flexibility and value creation opportunities.
Global Metals and Mining Conference focuses on sustainability leadership and caution regarding forward-looking statements. Teck Resources is committed to sustainability with governance oversight and executive compensation linked to performance. Their 2050 goal is net zero emissions with a 2030 target of 33% carbon intensity reduction. Key highlights include renewable energy use, waste recycling, biodiversity protection, and health and safety improvements.
2. Caution Regarding Forward-Looking Statements
1
Both these slides and the accompanying oral presentations contain certain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the
Securities Act (Ontario) and comparable legislation in other provinces (collectively referred to herein as forward-looking statements). Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variation of such words and phrases or state that certain actions, events or results “may”, “could”, “should”, “would”, “might” or
“will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Teck to be materially different from any future
results, performance or achievements expressed or implied by the forward-looking statements.
These forward-looking statements include, but are not limited to, statements concerning: expectation that will be able to substantially maintain production and sales in the short term; the impact of COVID-19 and our response thereto on our business
and operations; scope, duration of nature of our response to COVID-19; timing of our updated guidance; expected coal adjusted site cost of sales; timing of completion of Elkview plant expansion completion; benefits of the Elkview plan expansion;
statements that QB2 is a long-life, low-cost operation with major expansion potential; targeted RACE21TM annualized EBITDA improvements and timing of those improvements; expectations regarding the Neptune Bulk Terminals facility upgrade
including costs, benefits and timing thereof; targeted reductions for our cost reduction program and timing thereof; adjusted EIBTDA improvements noted on the “Our Key Priorities” slide; statements that QB2 will be a world class, low cost copper
opportunity, statements and expectations regarding the value and amount of contingent consideration, timing of first production, long-life and expansion potential; strip ratio estimates for QB2; availability of our revolving credit facility and statement
that we have a strong financial position; timing and amount of our contributions to QB2 project capital; expectation that we are well positioned to weather COVID-19 challenges; QB2 updated capital estimate figures, timing of first production and
funding profile; expected suspension costs associated with the QB2 suspension and total schedule delay associated therewith; and all other estimates and projections associated with our business and operations.
The forward-looking statements are based on and involve numerous assumptions, risks and uncertainties and actual results may vary materially. These statements are based on assumptions, including, but not limited to, general business and
economic conditions, interest rates, the supply and demand for, deliveries of, and the level and volatility of prices of, zinc, copper, coal, blended bitumen, and other primary metals, minerals and products as well as steel, oil, natural gas, petroleum,
and related products, the timing of the receipt of regulatory and governmental approvals for our development projects and other operations and new technologies, our costs of production and production and productivity levels, as well as those of our
competitors, power prices, continuing availability of water and power resources for our operations, market competition, the accuracy of our reserve estimates (including with respect to size, grade and recoverability) and the geological, operational
and price assumptions on which these are based, conditions in financial markets, the future financial performance of the company, our ability to successfully implement our technology and innovation strategy, the performance of new technologies in
accordance with our expectations, our ability to attract and retain skilled staff, our ability to procure equipment and operating supplies, positive results from the studies on our expansion projects, our coal and other product inventories, our ability to
secure adequate transportation for our products, our ability to obtain permits for our operations and expansions, our ongoing relations with our employees and business partners and joint venturers, our expectations with respect to the carbon
intensity of our operations, assumptions regarding returns of cash to shareholders include assumptions regarding our future business and prospects, other uses for cash or retaining cash. Assumptions are also included in the footnotes to various
slides. Assumptions regarding the costs and benefits of the Neptune Bulk Terminals expansion and other projects include assumptions that the relevant project is constructed and operated in accordance with current expectations. Our anticipated
RACE21TM related EBITDA improvements and associated costs assume that the relevant projects are implemented in accordance with our plans and budget and that the relevant projects will achieve the expected production and operating results,
and are based on current commodity price assumptions and forecast sale volumes. Payment of dividends is in the discretion of the board of directors. Assumptions regarding QB2 include current project assumptions and assumptions regarding the
final feasibility study. Assumptions are also included in the footnotes to the slides.
Factors that may cause actual results to vary materially include, but are not limited to, extended COVID-19 related suspension of activities and negative impacts on our suppliers, contractors, employees and customers; extended delays in return to
normal operations due to COVID-19 related challenges; changes in commodity and power prices, changes in market demand for our products, changes in interest and currency exchange rates, acts of governments and the outcome of legal
proceedings, inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources), unanticipated operational difficulties (including failure of plant, equipment or
processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action,
adverse weather conditions and unanticipated events related to health, safety and environmental matters), union labour disputes, political risk, social unrest, failure of customers or counterparties (including logistics suppliers) to perform their
contractual obligations, changes in our credit ratings, unanticipated increases in costs to construct our development projects, difficulty in obtaining permits, inability to address concerns regarding permits of environmental impact assessments, and
changes or further deterioration in general economic conditions. EBITDA improvements may be impacted by the effectiveness of our projects, actual commodity prices and sales volumes, among other matters. QB2 timing may be impacted by
delays in obtaining permits and other approvals.
We assume no obligation to update forward-looking statements except as required under securities laws. Further information concerning risks and uncertainties associated with these forward-looking statements and our business can be found in our
Annual Information Form for the year ended December 31, 2019, filed under our profile on SEDAR (www.sedar.com) and on EDGAR (www.sec.gov) under cover of Form 40-F, as well as subsequent filings that can also be found under our profile.
QB2 Project Disclosure
The scientific and technical information regarding the QB2 project and Teck's other material properties was prepared under the supervision of Rodrigo Marinho, P. Geo, who is an employee of Teck. Mr. Marinho is a qualified person, as defined under
National Instrument 43-101.
5. COVID-19 Response - Focus on Health and Safety
• Senior COVID-19 Response Team
coordinating action plans
• Remote work implemented wherever
feasible
• Comprehensive preventative measures and
response plans in place at all operations
• Coordinating with unions on prevention
and communication
• Adhering to latest guidance from
governments and public health authorities
4
6. COVID-19 Response - Prevention Measures
At all Sites
• Reducing on-site crews at sites to support
social distancing
• Comprehensive measures in place at all
sites:
o Enhanced cleaning / disinfecting protocols
o Social distancing - no large group meetings;
reduce occupancy on crew buses
o Rapid symptom response protocol
o Promoting preventative measures like
frequent handwashing
5
Temp screening - QB2Crew bus cleaning - Coal
Site symptom response
teams
Handwashing signs
– Trail Operations
7. COVID-19 Response - Enhanced Measures
For Operations
Steelmaking Coal; Highland Valley Copper:
• Reducing crews by up to 50% of regular levels
• Employees will continue to be paid during this period
• Expect slightly lower production of 80-85% in the short term
• Will re-evaluate after initial period of 2 weeks
Trail Operations:
• 33% reduction in the number of employees on site
during typical weekday shift
• Maintaining normal production levels
Fort Hills:
• Temporarily operating as a single train facility
• Screening of personnel before travel to site
6
8. COVID-19 Response - Enhanced Measures
For Operations (cont.)
QB2:
• Construction suspended for initial 2 week period
• Demobilization of site completed
Antamina:
• Continuing to operate under current government
restrictions with reduced crews
• Crews staying in camp for an extended period to
reduce travel
• Maintaining normal production levels
Red Dog:
• Medical screening of all personnel before travel to site
• Stopped all regional flights; all employees routed through
Anchorage
• 14-day isolation for all out-of-state employees before
travel to site
7
Enhanced cleaning protocols at all sites
9. COVID-19 Response - Business Continuity
• Teck has suspended 2020 annual guidance; will
update with Q1 2020 release
• All sites continue to operate with COVID-19
response measures in place
• No material impact to sales or shipments to date
• Mining, smelting and suppliers designated as
essential in British Columbia, Alberta and Alaska
to date
• Adapting our response as the situation continues
to evolve
8
10. Accounting Treatment for
Incremental COVID-19 Expenditures
Incremental and specific COVID-19 expenditures
being identified across the company
• Related to capital projects: expensed as incurred in “Other Operating Expense”
• Related to production: expensed as incurred in “Cost of Sales”;
Will not be included in inventory value
• All other expenditures not related to production: expensed as incurred
in “Other Operating Expense”
9
Any COVID-19 expenses will be included as an adjusting item to reported profit
11. Q1 2020 Update
10
Steelmaking Coal
• Exceeded guidance for steelmaking coal sales at
5.6 million tonnes vs. 4.8 to 5.2 million tonnes
• Expect adjusted site cost of sales1 to be ~$65 per tonne,
well below previous expectations
• Reduced finished coal inventories at the mine sites
• Elkview shutdown to complete the plant expansion
to 9 million tonnes is progressing well
‒ Expect completion in mid-April
‒ Enables replacement of higher cost production from
Cardinal River with lower cost production from Elkview
12. Q1 2020 Update (cont.)
11
The Neptune facility upgrade continues to advance;
Completion of construction is expected in Q1 2021
CP Rail and CN Rail recovered well from weather-related disruptions
and blockades early in the quarter
All three ports performed well after these challenges were behind us;
Westshore responded with a strong performance in March 2020
Steelmaking Coal Logistics
The supply chain performed well in March 2020 following a difficult start to the year
due to extreme winter weather and rail blockades
13. Q1 2020 Update (cont.)
12
Base Metals
• All sites continue to operate at normal
production levels, except Highland Valley
Copper
Energy - Fort Hills
• Partners reacted quickly to reduce
production to one train to preserve cash
• Work continues to minimize cash outflows
‒ Reduce capital and operating costs
‒ Prepare for further production and
cost reductions
‒ Assess full shutdown and restart
14. Our Key Priorities
13Forecast results. Scale not necessarily representative of EBITDA1 results or impact.
2019
Adjusted
EBITDA1
$4.3 billion
QB22
Neptune
• Our Neptune facility upgrade secures a long term, low cost
and reliable supply chain for our steelmaking coal business
• Helps us deliver on our commitments to shareholders
and customers
• Company-wide cost reduction program underway
• Increasing total targeted reductions to ~$1 billion
• RACE21TM is our innovation-driven business
transformation program
• Targeting ~$1 billion in ongoing annualized EBITDA1
improvements
• QB2 is a long-life, low-cost operation with major
expansion potential
• Rebalances our portfolio over time
• QB has potential to become a top five global copper
producer
Focus on health and safety and sustainability leadership
Cost Reduction
Program4
RACE21TM 3
15. Focus on Sustainability Leadership
Teck’s performance on top ESG ratings
• Top-ranked mining
company 2019 World
& North American Indices
• In the index for 10
consecutive years
• “A” rating since 2013
(scale of CCC – AAA)
• Outperforming all 10 of our
largest industry peers
• Ranked in the
100th percentile
• Tied for 2nd in mining
& metals category
14
16. QB2 Value Creation
Delivers on Copper Growth Strategy
• Rebalances Teck's portfolio over time to make
the contribution from copper similar to
steelmaking coal
• World class, low cost copper opportunity in an
excellent geopolitical jurisdiction
• First production Q2 2022
• Vast, long life deposit with expansion potential
(QB3)
• QB2 partnership and financing plan dramatically
reduces Teck’s capital requirements
15
Low Strip Ratio1
QB2 (0.7:1)2
Antamina (2.9:1)3
Collahuasi (3.4:1)3
Escondida (2.6:1)3
17. • Achieved $160 million1 in annualized EBITDA2
improvements as of the end of 2019
o Exceeded our initial target of $150 million
• In the short term, reduced support from consultants
and RACE21TM deployment at sites;
working remotely, with a focus on:
o Sustaining implemented improvements
o Preparing for additional improvement projects
• Schedule impacts as a result of COVID-19 will
depend on when we resume full RACE21TM activities
• Maintaining our targets for cumulative annualized
EBITDA improvements2, but risk to timing
16
RACE21TM
Our innovation-driven business transformation program
RACE21TM
Potential Future Path to Value
$160 million2
End 2019
$500 million
End 2020
$1 billion
End 2021
CumulativeAnnualized
EBITDA2Improvements
Continuing to target a total of $1 billion1 in annualized EBITDA2 improvements
18. • Continue to advance the facility upgrade
project; major equipment deliveries remain
on track
• To date, COVID-19 related issues have not
substantially impacted works on the critical path
• Expect the new ship loader, stacker / reclaimer
and single dumper replacement to be
commissioned around year end
• Completion of construction expected in Q1 2021
17
Neptune Facility Upgrade
Secures a long term, low cost and reliable supply chain for our steelmaking coal business
23. Cost Reduction Program
• In Q4 2019:
- Achieved ~$210 million of capital and operating reductions,
exceeding our target of $170 million
- Increased our total targeted reductions to ~$610 million of previously planned
spending through the end of 2020, vs. the previous target of $500 million
• Further increasing our total targeted reductions to ~$1 billion of previously
planned spending through the end of 2020
22
Further increased our total targeted reductions to ~$1 billion
24. 0
500
1,000
2019
2021
2023
2025
2027
2029
2031
2033
2035
2037
2039
2041
2043
Strong Financial Position
No Significant Note Maturities until 2035
• Notes outstanding reduced from US$7.2 billion
in September 2015 to US$3.2 billion2
23
Note Maturity Profile3 (C$M)
Solid Liquidity
• ~C$5.8 billion1 of liquidity as of March 31, 2020
• US$4.0 billion committed revolving credit facility
recently extended to November 2024
Investment Grade Credit Rating
Prudent QB2 Funding and Financing Plan
• US$2.5 billion QB2 project finance facility
in place
• QB2 partnership and financing plan dramatically
reduces Teck’s capital requirements;
No contributions to project capital expected
until Q1 2021
25. QB2 Project Update
Alex Christopher
Senior Vice President
Exploration, Projects and Technical Services
27. Expenditures2
US$ 1.3B
QB2 Updated Capital Estimate
Sanction Case
Sanction Case1
Capital Cost (inc. escalation)
US$ 5.2B
26
Contingency (incl.)
~US$500M
Exchange Rate
625 CLP:USD
1st Production
Q4 2021
28. To-go April 1, 2020
US$3.9B
QB2 Updated Capital Estimate
Updated Estimate
27
Updated Estimate1
Contingency (incl.)
~US$400M
Exchange Rate
775 CLP:USD
1st Production
Q2 2022
• Engineering, Contract Formation and Procurement approaching 100% and
in close out
• Includes actual contract and purchase order pricing
• Majority of construction permits secured
• Visibility on contractor productivity
Capital Cost (inc. escalation)
US$5.2B
29. QB2 Updated Capital Estimate
Exchange Rate, Permitting and Social Unrest Key Drivers
28
Key Change Drivers
- Exchange rate
- Permitting delays
- Social unrest
- Road maintenance
- Schedule extension
- Design modifications
- Contractor performance
30. -$300
-$200
-$100
$0
$100
$200
$300
700 750 800 850
US$Millions
CLP:USD Exchange
QB2 Updated Capital Estimate
Exchange rate sensitivity and funding
Teck's Equity Contributions
29
• Teck's equity contributions are ~US$880 million4
going forward with no contributions required until
Q1 20215
QB2 Funding Profile (US$M)6
Sumitomo
true-up post
closing
Capital Sensitivity to Exchange Rate
• Exposure to CLP on ‘to go’ capital is ~69%1
• FX has ranged from 726 to 879 since Oct 20192
• +70% of capital committed and 25% incurred3
To Go Sensitivity to CLP:USD FX (US$M)
$139 655
221
$788
490
328
111
1,095
1,179
226
2019 Pre
Close
2019 Post
Close
2020E 2021E 2022E
Teck Contribution Sumitomo Contribution Project Finance
$558
$1,585
$2,162
Additional US$240 million in benefit based on current spot CLP:USD7
US$240M
Benefit
(spot)
31. Potential Impact of COVID-19
Project construction activities remain on hold
- Maintaining limited workforce
- Advancing procurement, manufacturing & other activities
Extensive planning continues for remobilization
Not currently possible to predict a remobilization date
Cost/schedule impact depend on suspension length
A four week suspension expected to have impact of
- US$ 75 to $125 million in costs
- Up to 8 weeks of schedule delay in total
Incremental impact of any additional suspension
- US$25 to $50 million per month and a 1:1 schedule delay
30
39. Q1 2020 Highlights
• All of our operations are currently running
• Steelmaking coal sales exceeded guidance
• Steelmaking coal adjusted site cost of sales1
are expected to be well below previous
expectations
• Steelmaking coal logistics supply chain
performed well in March 2020
• Elkview expansion project completion
expected in two weeks
• Neptune facility upgrade project
continues to advance
38
40. Looking Forward
• Focused on managing the risks
around COVID-19
• Continuing to advance our key
priorities to generate long term
value for shareholders:
1. QB2 Project
2. RACE21TM
3. Neptune Facility Upgrade
4. Cost Reduction Program
• Strong financial position
39
42. Notes
Slide 9: Accounting Treatment for Incremental COVID-19 Expenses
1. EBITDA and Adjusted EBITDA are non-GAAP financial measures. See “Non-GAAP Financial Measures” slides.
Slide 14: Q1 2020 Update
1. Steelmaking coal unit costs are reported in Canadian dollars per tonne. Adjusted site cost of sales includes site costs, transport costs, and other and does not include deferred stripping or capital expenditures. Adjusted site cost of sales is a
non-GAAP financial measure. See “Non-GAAP Financial Measures” slides.
Slide 13: Our Key Priorities
1. Scale suggests Teck’s potential attributable share of the first 5 full years of annual EBITDA, assuming a C$/US$ exchange rate of 1.33. Annual EBITDA for the project based on the first five full years of copper equivalent production is
US$1.1 billion to US$1.4 billion based on feasibility price assumptions and production plans. Copper equivalent production calculated assuming US$3.00/lb copper, US$10.00/lb molybdenum and US$18.00/oz silver without adjusting for
payability. EBITDA is a non-GAAP financial measure. See “Non-GAAP Financial Measures” slides.
2. Targeting total of $1 billion annualized EBITDA improvements by end of 2021. EBITDA is a non-GAAP financial measure. See “Non-GAAP Financial Measures” slides.
3. Targeting total reductions of approximately $1 billion of previously planned spending through the end of 2020.
Slide 15: QB2 Value Creation
1. 1 truck = a strip ratio of 0.1.
2. The strip ratio of the QB2 Project Sanction Case includes inferred resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves.
Inferred resources are subject to greater uncertainty than measured or indicated resources and it cannot be assumed that they will be successfully upgraded to measured and indicated through further drilling. The strip ratio for the life of mine
excluding inferred resources is 0.41.
3. Source: Wood Mackenzie over 2021-2040.
Slide 16: RACE21TM
1. Based on commodity prices at December 31, 2019 and assumed to remain in effect through 2020: steelmaking coal US$136.50 per tonne, copper US$2.79 per pound, zinc US$1.04 per pound and a C$/US$ exchange rate of $1.30.
2. EBITDA is a non-GAAP financial measure. See “Non-GAAP Financial Measures” slides and “Use of Non-GAAP Financial Measures” section of the Q4 2019 news release for further information.
Slide 23: Strong Financial Position
1. Includes the undrawn portion of a US$4 billion committed revolving credit facility and cash on hand.
2. As at December 31, 2019.
3. Public notes outstanding as at December 31, 2019.
Slide 25: QB2 Execution Update
1. As at March 18, 2020 suspension.
2. Actuals to February 29, 2020.
3. Expenditures from January 1st 2019. Actuals to February 29, 2020 plus estimate from March 2020.
4. Number of active workers on site versus employees on payroll.
Slide 26: Updated QB2 Capital Estimate – Sanction Case
1. Capital cost on a 100% go forward basis from January 1, 2019 and a CLP:USD exchange rate of 625, including US$425 million escalation (previously reported as US$300 - $470 million based on 2 - 3% per annum inflation), not including
working capital or interest during construction. Includes approximately US$500 million in contingency. First production based on a P50 project schedule.
2. Expenditures from January 1st 2019. Actuals to February 29, 2020 plus estimate from March 2020.
Slide 27: Updated QB2 Capital Estimate – Updated Estimate
1. On a 100% go forward basis from January 1, 2019 including escalation and excluding working capital or interest during construction using actual realized exchange rates until March 30, 2020 and assuming a CLP/USD exchange rate of 775
from April 1, 2020. To Go Capital is expressed from April 1st 2020. Includes approximately US$400 million in contingency. First production based on a P80 project schedule.
41
43. Notes
Slide 29: QB2 Updated Capital Estimate, Exchange rate sensitivity and funding
1. Based on existing exposure and assuming CLP:USD exchange rate of 775.
2. FX range based on Chilean Peso spot data published by Bloomberg.com.
3. Committed and Incurred expenditures as at end of February 2020.
4. On a go forward basis from April 1, 2020. Assumes US$2.5 billion in project finance loans without deduction of fees and interest during construction, and the US$1.2 billion purchase price contribution from Sumitomo.
5. Timing of equity contributions from Teck are based on the expenditure profile underlying the updated estimate and assumes that the contributions associated with purchase price from Sumitomo Metal Mining Co., Ltd and Sumitomo Corporation
is spent before first draw. Thereafter, the project finance facility is used to fund all capital costs until target debt : capital ratio achieved on a cumulative basis, after which point project finance and equity contributions are made ratably based on
this same debt : capital ratio.
6. Based on capital cost on a 100% go forward basis from January 1, 2019 using actual costs until March 30, 2020 and assuming a CLP/USD exchange rate going forward from April 1st 2020 of 775, including escalation, but not including working
capital or interest during construction. Includes US$400 million of contingency.
7. Based on an assumed CLP:USD exchange rate of 850 and on the project’s current estimated CLP:USD exposure.
Slide 38: Q1 2020 Highlights
1. Steelmaking coal unit costs are reported in Canadian dollars per tonne. Adjusted site cost of sales includes site costs, transport costs, and other and does not include deferred stripping or capital expenditures. Adjusted site cost of sales is a
non-GAAP financial measure. See “Non-GAAP Financial Measures” slides.
42
44. Non-GAAP Financial Measures
43
(C$ in millions)
Three months ended
December 31, 2019
Three months ended
December 31, 2018
Twelve months ended
December 31, 2019
Twelve months ended
December 31, 2018
Profit (loss) attributable to shareholders $ (1,835) $ 433 $ (605) $ 3,107
Finance expense net of finance income 46 58 218 219
Provision for (recovery of) income taxes (510) 261 120 1,365
Depreciation and amortization 415 400 1,619 1,483
EBITDA (loss) $ (1,884) $ 1,152 $ 1,352 $ 6,174
Add (deduct):
Asset impairment 2,507 41 2.678 41
Debt prepayment option loss (gain) - 33 (105) 42
Debt redemption or purchase loss - - 224 26
Gain on sale of Waneta Dam - - - (888)
Taxes and other 26 29 104 (5)
Adjusted EBITDA $ 649 $ 1,255 $ 4,253 $ 5,390
Reconciliation of EBITDA (loss) and Adjusted EBITDA
45. Non-GAAP Financial Measures
1. Average period exchange rates are used to convert to US$ per tonne equivalent.
We include unit cost information as it is frequently requested by investors and investment analysts who use it to assess our cost structure and margins
and compare it to similar information provided by many companies in our industry. 44
(C$ in millions, except where noted)
Three months ended
December 31, 2019
Three months ended
December 31, 2018
Twelve months ended
December 31, 2019
Twelve months ended
December 31, 2018
Cost of sales as reported $ 864 $ 855 $ 3,410 $ 3,309
Less:
Transportation costs (249) (255) (976) (975)
Depreciation and amortization (207) (181) (792) (730)
Inventory write-downs (28) - (32) -
Adjusted site cost of sales $ 380 $ 419 $ 1,610 $ 1,604
Tonnes sold (millions) 6.3 6.6 25.0 26.0
Per unit amounts (C$/t)
Adjusted site cost of sales $ 60 $ 63 $ 65 $ 62
Transportation costs 40 39 39 37
Inventory write-downs 4 - 1 -
Unit costs (C$/t) $ 104 $ 102 $ 105 $ 99
US$ AMOUNTS1
Average exchange rate (C$/US$) $ 1.32 $ 1.32 $ 1.33 $ 1.30
Per unit amounts (US$/t)
Adjusted site cost of sales $ 46 $ 48 $ 49 $ 47
Transportation costs 30 29 29 29
Inventory write-downs 3 - 1 -
Unit costs (US$/t) $ 79 $ 77 $ 79 $ 76
Steelmaking Coal Unit Cost Reconciliation