Teck Resources to Outline Growth Strategy at 2024 Strategy Day

Teck Resources plans to unveil its growth strategy focused on expanding copper production at its 2024 Strategy Day on November 5, 2024. The company aims to increase copper output to 800,000 tonnes per year by the end of the decade, detailing its investment approach to achieve this growth while generating value for shareholders and stakeholders.

"Teck is uniquely positioned in our industry, with the ability to deliver transformative near-term copper growth while simultaneously returning significant cash to shareholders," said Jonathan Price, President and CEO. "We are executing on a disciplined strategy to grow copper production by advancing our portfolio of lower capital intensity, high-returning projects in stable jurisdictions."

Teck's growth plan builds on recent production increases, with copper output rising from 297,000 tonnes in 2023 to an expected 420,000-455,000 tonnes in 2024, and a further increase to 510,000-590,000 tonnes in 2025. "We are focused on disciplined allocation of capital that balances value-accretive growth with continued cash returns to shareholders, all while maintaining a strong balance sheet through market cycles," Price emphasized.