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Teck Resources Limited (also known as Teck) "is one of Canada’s leading mining companies, committed to responsibly providing products that are essential to building a better quality of life for people around the globe."[1]
Headquartered in Vancouver, British Columbia, Canada, it is a world leader in the production of copper, zinc, metallurgical (steelmaking) coal, as well as lead. It also produces gold ore, silver, and specialty metals such as germanium, indium, and cadmium.[2]
Teck owns operations and projects in Canada, the US, Chile, and Peru.[1] It also boasts expertise across the full range of activities related to mining, including exploration, development, smelting, refining, safety, environmental protection, product stewardship, recycling, and research.
Coal Mines
As of 2023, Teck owns four active steelmaking coal operations, all located within the Elk Valley region of British Columbia.[3]
Operating
Retired
Coal Exports
In October 2010, Teck Resources Ltd. and Canadian Pacific Railway Ltd. unveiled a new 10-year agreement for moving coal from five Teck mines to the Pacific Coast for export. Financial terms of the deal, which will begin in April 2011, were not announced, but CP said it agreed to enhance capacity on its system to handle increased volume from the mines in southeastern British Columbia. Teck plans to increase coal production at the mines by 50 per cent over the next few years, and was looking for an agreement that ensured the higher production could be moved to ports near Vancouver.[4]
Teck's then-CEO, Don Lindsay, said in a statement: “This agreement gives Teck the certainty we need to realize our growth strategy in coal and to deliver our increased production on a timely basis to our key markets.” The mining company won approval from Canadian regulators in 2009 to shift some of its coal traffic from Canadian Pacific to its larger rival Canadian National Railway Co., and it will continue to do that. The coal, used for steel making, is transferred to ships at Vancouver’s Westshore Terminals and Neptune Terminals, and Teck plans to continue using both facilities under the deal, it said.[4]
Coal Exit Plans
In February 2023, Teck attempted to separate the company into two new independent companies: Teck Metals Corp., a growth-oriented producer of energy transition metals; and Elk Valley Resources Ltd., a high-margin steelmaking coal producer.[5] This restructuring plan, however, has reportedly failed.[6]
As a result, Teck is now considering completely exiting from the coal business and has reportedly been entertaining bids since April 2023. Glencore is one of the only known bidders interested in acquiring 100% of the company's metallurgical coal segment. Teck is also considering selling a portion of the business, in which case it would spin off the remaining coal shares to its shareholders.[6]
Water Pollution
In March 2013, a University of Montana study was released showing selenium levels were 100 times higher in the Elk River near a Teck mining operation than in the nearby Flathead River, a watershed not touched by coal mining. Selenium is a metal-like element that can cause spinal deformities in young fish. Nitrate and phosphate levels in the Elk were also far higher than expected. Teck said the company plans to invest $600-million over the next five years on water diversion and treatment facilities and on environmental research.[7]
Board of Directors
As of August 2023, Teck's board members include:[8]
- Shiela A. Murray - Chair of the Board
- Norman B. Keevil III - Vice Chair of the Board
- Norman B. Keevil - Chairman Emeritus
- Jonathan Price - Chief Executive Officer
- Harry "Red" M. Conger - President & Chief Operating Officer
- Arnoud J. Balhuizen - Corporate Director
- Edward C. Dowling - Corporate Director
- Tracey L. McVicar - Partner at CAI Capital Partners
- Una M. Power - Corporate Director
- Yoshihiro Sagawa - Executive Officer, Senior Deputy General Manager of Mineral Resources Division, Sumitomo Metal Mining Co. Ltd.
- Paul G. Schiodtz - Chairman of the Asociación Chilena de Seguridad
- Timothy R. Snider - Chairman of Cupric Canyon Capital, LLC
- Sarah A. Strunk - Chair of the Board of Directors of Fennemore Craig
Contact
URL: http://www.teck.com
Resources and articles
References
- ↑ 1.0 1.1 "About", Teck website, Accessed August 2023.
- ↑ "Products", Teck website, Accessed August 2023.
- ↑ "Operations", Teck website, Accessed August 2023.
- ↑ 4.0 4.1 "Teck, CP ink 10-year coal-hauling deal" The Globe and mail, October 6, 2010.
- ↑ "Teck to Spin Off Steelmaking Coal Business to Shareholders", Teck, Accessed August 2023.
- ↑ 6.0 6.1 "Teck planning full exit from coal business, in event of partial sale will spin off remainder", mining.com, 11 August 2023.
- ↑ Mark Hume, "Elk River is being poisoned’ by coal mining, study finds," The Globe and Mail, Mar. 21 2013.
- ↑ "Board of Directors", Teck website, accessed August 2023.
External articles
- Becky Kramer, "Teck, Colville Tribe go to trial over slag," The Spokesman-Review, August 12, 2012.
