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Teck Resources Ord Shs Class A T.TECK.A

Alternate Symbol(s):  T.TECK.B | TECK | TCKRF

Teck Resources Limited is a Canada-based mining company that operates in copper, zinc, steelmaking coal and energy segment. The Company’s operations and projects include Antamina, Cardinal River, Carmen de Andacollo, Elkview, Fording River, Fording River Extension, Fort Hills, Galore Creek Project, Greenhills, Highland Valley Copper, HVC 2040, Line Creek, NewRange Copper Nickel, NuevaUnion, Quebrada Blanca, Quebrada Blanca Phase II, Quintette Project, Red Dog, Sullivan Mine and Trail Operations. The Antamina mine is a large copper and zinc mine, located in the Andes Mountain range of Peru. Its Carmen de Andacollo is located in the Coquimbo Region of central Chile. The Fording River Extension Project is located adjacent and to the south of Teck’s existing Fording River Operations. Its Galore Creek is located within the territory of the Tahltan in northwestern British Columbia, approximately 150 kilometers northwest of Stewart.


TSX:TECK.A - Post by User

Comment by jrj90620on Oct 30, 2021 5:08pm
222 Views
Post# 34068861

RE:fort hills

RE:fort hills

Lawson Winder -- Bank of America Securities -- Analyst

Good morning and thank you for the update. I'd like to ask about the energy business if I might. Even the past suggested that business could potentially be divested, given a strong oil price environment and improving in operations. So certainly the first criteria, seems to be met. And it looks like there scope for the operations to turn around in the fairly near future. Could you maybe comments on whether or not now might be the right time to divest and how would you assess the marketplace of potential buyers at this point? Thank you.

Don Lindsay -- President & Chief Executive Officer

Yes. No, I agree with the way you've phrased the question. We do see strong pricing and if Fort Hills was running at full capacity today, it would be very profitable and the board would be able to make a decision. What we've said in the past and it hasn't changed is that once Fort Hills is at full production and then generating the kind of EBITDA we think it can. And particularly at these prices, then the board would assess whether we're getting paid for it in Teck Resources shares and if not, then it would entertain a transaction to have it held differently but still to have Teck shareholders benefit. So, what we mean by that is, possibly contributing it into a midcap and taking back shares, distributing those to Teck shareholders. We could do a direct Teck energy spin-out. We could sell to another party for shares in that company. And it looks like, the ramp up will occur this quarter.

So, we're very pleased with that but it hasn't happened yet. But if it does hit full production by January 1, then Q1 like next quarter would be the first full quarter where we could demonstrate financial results with it running at full production. So coming soon, yes but not quite there yet will be a time when the Board can make a decision.

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