11:37 AM EDT, 09/03/2024 (MT Newswires) -- Teck Resources ( TECK ) on Tuesday launched a new business structure to support its shift to becoming a pure-play energy transition metals company.

The new structure organizes Teck around two regional business units. The North America business unit includes the Highland Valley Copper, Red Dog and Trail operations, and the Galore Creek, Schaft Creek and New Range copper growth projects.

The Latin America business unit includes the Carmen de Andacollo and Quebrada Blanca operations, Teck's interest in Antamina, and the Zafranal, San Nicolas and NuevaUnion copper growth projects.

The North America and Latin America business units will be supported by enterprise-wide functions and a dedicated Projects group that will develop and execute brownfield and greenfield projects.

Teck also made changes to its executive leadership team reporting to chief executive Jonathan Price, effective Sept. 1.

Among the changes, Ian Anderson, previously senior vice president and chief commercial officer, has been named executive vice president and chief commercial officer.

Shehzad Bharmal, previously SVP for base metals, has been appointed EVP and chief operating officer. Jeff Hanman, previously SVP for sustainability and external affairs, has been appointed EVP and chief strategy officer.

"This change simplifies our business with a streamlined executive leadership team and regional structure to support our strategy focused on growth in copper, balanced with shareholder returns and the long-term resiliency of our business," Price said.

Teck's Class B shares were last seen down $3.59 to $60.94 on the Toronto Stock Exchange.

Price: 60.75, Change: -3.56, Percent Change: -5.54