Teck Resources (TSX: TECK.A/TECK.B; NYSE: TECK) has produced the first bulk copper concentrate at its Quebrada Blanca Phase 2 (QB2) project in Chile as the project advances to full production later this year.
A critical growth project for Teck, QB2 was initially expected to begin production in 2021 but has faced several construction delays due to Covid-19 disruptions.
“First copper concentrate production at QB2 is an important milestone as we advance our commissioning and ramp up plan towards full production this year,” CEO Jonathan Price said in a statement Friday afternoon.
The project’s majority owner said that at full production, QB2 will double Teck’s copper output. The operation is targeted to achieve 285,000-315,000 tonnes of yearly copper production in 2024-2026. Teck said its 2023 copper production guidance remains unchanged at 390,000-445,000 tonnes of red metal.
As one of the world’s largest undeveloped copper resources, QB2 has an initial mine life of 27 years using only about 18% of reserves and resources. Teck says the deposit has potential to grow even more.
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Comments
Bob Hall
Congratulations are in order for this accomplishment. Well done, given the troubled times that you worked through to get here.