Teck to rebalance in favor of copper amid low-carbon transition

Teck Resources plans to rebalance its portfolio to reduce its exposure to steelmaking coal and focus instead on growth in copper, the company’s chief executive officer said.

Don Lindsay told Bank of America’s Global Metal, Mining & Steel conference that future growth in copper will come from a combination of organic growth at existing projects, exploration and strategic mergers and acquisitions.
“Accelerating copper growth is the cornerstone of our strategy in rebalancing our portfolio,” he said on Tuesday May 18. “We’re going to make steelmaking coal a much smaller overall portion of our business as we rebalance.”
The Vancouver, Canada-based company is making the move while it positions to further benefit from the transition to a low-carbon world. Among other end sectors, copper is used in electric vehicles, infrastructure and renewable energy.

Teck is a significant copper producer in the Americas, with four operating copper mines and a pipeline of development projects in North and South America. It is also the world’s largest net miner of...

Published

Andrea Hotter

May 19, 2021

14:46 GMT

New York