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Copper miner Teck defers major project approvals amid operations review
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Copper miner Teck defers major project approvals amid operations review
Sep 3, 2025 6:43 AM

Sept 3 (Reuters) - Teck Resources ( TECK ) late on

Tuesday said it would defer approving major growth projects

until its Quebrada Blanca Phase 2 (QB2) copper mine in Chile

achieves steady operations and target output, as part of a

companywide operations review.

The Canadian copper miner said that it began the review

process in August to improve performance across the company,

which it expects to conclude by October, with an updated

forecast by its third-quarter results.

"We expect a negative reaction to Teck's operations review

and management changes, as while these changes could ultimately

lead to better operational performance, they create uncertainty

until the October guidance update", said RBC Capital Market

analysts in a note.

The company also appointed senior vice presidents of

operations for Latin America and North America, who will report

to CEO Jonathan Price.

The QB2 mine, located in Chile's northern Tarapaca Region,

is 60% indirectly owned by Teck.

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