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.