Company Overview

Teck Resources Limited is a Canadian diversified mining company primarily engaged in the base metals and metallurgical coal industries. The company focuses on the exploration, development, production, and marketing of natural resources, with principal commodities including copper, zinc, and steelmaking coal. Teck’s revenues are largely driven by the sale of these commodities into global industrial and infrastructure markets, particularly serving steel producers, construction-related industries, and manufacturers involved in electrification and energy transition value chains.

Founded in 1913 as Teck-Hughes Gold Mines Limited, the company evolved from a regional precious metals miner into a globally diversified resource company through organic development and acquisitions. Over time, Teck strategically shifted its portfolio toward base metals and metallurgical coal, positioning itself as a supplier of materials essential to urbanization, industrial growth, and decarbonization technologies. Its unique positioning stems from long-life, large-scale assets, integrated logistics, and a focus on commodities linked to global infrastructure and electrification demand.

Business Operations

Teck organizes its business around four primary operating segments: Copper, Zinc, Steelmaking Coal, and Energy. The Copper segment includes interests in large-scale operations such as Quebrada Blanca (QB2) in Chile and Antamina in Peru, generating revenue through copper concentrate sales. The Zinc segment comprises mining and refining operations, including Red Dog in Alaska and Trail Operations in Canada, producing refined zinc and by-products. The Steelmaking Coal segment, operated through Teck Coal Limited, supplies metallurgical coal primarily to steel producers. The Energy segment historically included oil sands interests, though Teck has reduced exposure through asset sales; remaining involvement is limited and transitional.

Operations span both domestic and international markets, with assets in Canada, Chile, Peru, and the United States. Teck controls significant mining infrastructure, processing facilities, and logistics assets, including ports and rail access in western Canada. The company operates through wholly owned subsidiaries and joint ventures, with partnerships structured around large, capital-intensive assets where risk sharing and local expertise are strategic priorities.

Strategic Position & Investments

Teck’s strategic direction emphasizes portfolio simplification, capital discipline, and increased exposure to commodities aligned with electrification and decarbonization trends, particularly copper and zinc. A key strategic initiative has been the planned separation of its steelmaking coal business into a standalone entity, Elk Valley Resources, intended to unlock shareholder value and allow more focused capital allocation. Teck has also invested heavily in growth projects such as Quebrada Blanca Phase 2, which significantly expands copper production capacity.

Major investments and acquisitions have been complemented by selective divestments, including the sale of certain oil sands interests, reflecting a reduced emphasis on energy assets. Teck continues to invest in operational efficiency, mine life extensions, and environmental performance, including water management, tailings safety, and emissions reduction technologies. Its portfolio companies and joint ventures are concentrated in large-scale, long-life assets with competitive cost positions.

Geographic Footprint

Teck is headquartered in Vancouver, British Columbia, and operates across North America and South America. Its most significant operational presence is in Canada, where it runs multiple steelmaking coal operations in British Columbia and zinc refining facilities in Trail. In the United States, Teck operates the Red Dog zinc mine in Alaska, one of the world’s largest zinc-producing operations.

Internationally, Teck maintains a strong footprint in Chile and Peru through copper-focused joint ventures, supplying global markets across Asia, Europe, and the Americas. Sales and marketing activities are globally distributed, reflecting the company’s role as an exporter of bulk commodities to industrial customers worldwide. Teck’s international investments give it exposure to both mature and emerging markets with long-term demand fundamentals.

Leadership & Governance

Teck is led by an executive team focused on value creation through disciplined capital allocation, operational excellence, and responsible resource development. The company emphasizes strong governance, sustainability integration, and long-term stakeholder engagement as core elements of its leadership philosophy.

Key executives include:

• Jonathan Price – President and Chief Executive Officer
• Don Lindsay – Chair of the Board and former President and Chief Executive Officer
• Andrew Waples – Executive Vice President and Chief Financial Officer
• Jolene Hansen – Executive Vice President and Chief Human Resources Officer
• Rachael Petrie – Executive Vice President and Chief Corporate Affairs Officer

Leadership strategy is centered on maintaining a competitive asset base, advancing growth projects in copper and zinc, and enhancing shareholder returns while managing environmental and social risks.