Teck Resources Limited Presents at 22nd CLSA Investors' Forum, Sep-14-2015
Sep 11 15
Teck Resources Limited Presents at 22nd CLSA Investors' Forum, Sep-14-2015 . Venue: Grand Hyatt, Hong Kong. Speakers: Gregory A. Waller, Vice President of Investor Relations & Strategic Analysis.
Teck Resources Limited Presents at Bank of America Merrill Lynch 21st Annual Canada Mining Conference, Sep-11-2015 12:15 PM
Sep 1 15
Teck Resources Limited Presents at Bank of America Merrill Lynch 21st Annual Canada Mining Conference, Sep-11-2015 12:15 PM. Venue: Sheraton Centre, Toronto, Ontario, Canada. Speakers: Gregory A. Waller, Vice President of Investor Relations & Strategic Analysis.
Goldcorp Inc. and Teck Resources Limited Combine El Morro and Relincho Projects in Chile
Aug 27 15
Goldcorp Inc. and Teck Resources Limited announced an agreement to combine their respective El Morro and Relincho projects, located approximately 40 kilometres apart in the Huasco Province in the Atacama region of Chile, into a single project. Teck and Goldcorp will contribute their respective project interests into a 50/50 joint venture. The combined project will have the interim name of Project Corridor. Reduced environmental footprint: Project Corridor will reduce infrastructure requirements, including utilizing a single desalination plant, a single port, a single transmission line, a single concentrator and a common tailings facility. As a result, the environmental footprint of Project Corridor will be significantly less than the combined footprint of the standalone projects. The use of a common tailings facility located at the Relincho site responds to concerns expressed by local communities regarding the location of the previously proposed El Morro tailings facility within the agriculturally important Huasco River watershed. Lower cost, improved capital efficiency: Common infrastructure will significantly reduce project capital costs and ongoing operating costs. Further, the PEA contemplates a phased development approach that will allow future expansions to be funded from project cash flows, thus significantly reducing the initial funding requirement. As a result, the initial capital cost to bring Project Corridor into production is targeted to be $3.5 billion, with further capital required to construct future phases being funded largely from project cash flows. The feasibility studies of the standalone El Morro project and standalone Relincho project had previously estimated development costs at $3.9 billion in 2011 dollars and $4.5 billion in 2013 dollars, respectively. The integrated project allows for the optimization of both resources, resulting in a longer mine life of at least 32 years, based on existing proven and probable reserves, with the scope for further extensions given the significant exploration potential across the combined property. Initial stage development contemplates a single line mill and concentrator facility with an initial capacity in the range of 90,000 tonnes per day to 110,000 tonnes per day to produce an average of approximately 190,000 tonnes of copper and 315,000 ounces of gold per year over the first full 10 years. Enhanced community benefits: Project Corridor is expected to provide significant economic benefits to the local region. An estimated 4,000 jobs will be created during the construction phase and 1,400 jobs during operation. The increased mine life will provide longer-term employment opportunities and community investment. Community engagement: Project Corridor will undertake extensive engagement with communities, Indigenous Peoples and other stakeholders to help guide the project's development. In the months ahead, project staff will be meeting with the community and Indigenous Peoples to explain the Project Corridor concept and work collaboratively to define the project's engagement model. This process will be facilitated by two independent organizations with expertise in community engagement and experience in enhancing social performance and socially sustainable outcomes for resource projects. In combination with community consultation, a Pre-Feasibility Study is expected to commence in early 2016 and be completed in 12 - 18 months. Assuming a positive Pre-Feasibility Study, a Feasibility Study would be initiated thereafter. Goldcorp's El Morro project contained proven and probable reserves of 8.9 million ounces of gold and 6.5 billion pounds of copper as at December 31, 2014. Teck's Relincho project contained proven and probable reserves of 10.1 billion pounds of copper and 464 million pounds of molybdenum as at December 31, 2014. Based on the December 31, 2014 mineral reserve figures reported by Goldcorp in respect of El Morro and Teck in respect of Relincho, the proven and probable reserves of Project Corridor would contain approximately 16.6 billion pounds of copper, 8.9 million ounces of gold, and 464 million pounds of molybdenum. Further work on Project Corridor, including updating reserves estimates at December 31, 2015, may lead to revised mineral reserve estimates that could be higher or lower than the combined figure presented.