Teck Resources : Q1 2026 Appendix
TECK
Published on 04/23/2026 at 10:04 am EDT
FIRST QUARTER 2026 CONFERENCE CALL APPENDIX
April 23, 2026
TABLE OF CONTENTS
Merger of Equals
Operations
Copper Growth Options
Zinc Development Options
Macro and Metals Outlook
Reference
3
MERGER OF EQUALS WITH ANGLO AMERICAN
4
VALUE CREATION THROUGH MERGER OF EQUALS
Opportunity to participate in
future value creation
World-class portfolio and improved growth prospects
Compelling value creation
through synergies
Top 5 global copper producer, with significant re-rating potential
Maintain full investment and exposure to future upside
The Anglo special dividend increases Teck shareholder participation to 37.6%
Near-term debottlenecking at QB, Collahuasi, Quellaveco and Kumba UHDMS
Medium-term synergy capture including at QB and Collahuasi and at Los Bronces, Andina, Zafranal and San Nicolás
Long-term brownfield and greenfield expansions optionality
US$800M1 annual recurring pre-tax synergies
Highly capital efficient
QB-Collahuasi adjacencies
US$1.4B2 annual underlying EBITDA* uplift from ~175kpta incremental copper production
Highly attractive portfolio to capitalize upon compelling copper fundamentals
Increased scale and market position is expected to expand access to a deeper pool of investors
Merger subject to customary closing and regulatory conditions.
UNLOCKING THE FULL POTENTIAL OF QB-COLLAHUASI
Value accretive additional production from one of the largest copper complexes
QB plant
QB
Mineral Reserve grade 0.52%1 60% Teck
Collahuasi
Ore Reserve grade 0.96% TCu2
44% Anglo American
Additional Production
~175kt
Incremental annual copper production potential from processing softer, higher-grade
Collahuasi ore through ǪB plant (100% basis)3
Underlying EBITDA* Uplift
US$1.4B
Average annual basis from 2030-204S but expected to continue beyond this period (100% basis)3
Capital Efficient
~US$11,000/t
Cost-effective growth with lower capital investment requirements than standalone extension or expansion options
UNPACKING QB-COLLAHUASI INCREMENTAL PRODUCTION
Value-accretive, capital efficient additional production
Illustrative QB Production
Grade
1
Collahuasi reserve grade at 0.96%1, higher than QB reserve grade at 0.52%2
2
Throughput
One line of the plant will be fed with ore from Collahuasi with the second continuing to process QB ore
Processing softer Collahuasi ore through modern QB plant allows for increase in throughput
Results in a 50% increase in throughput for the line processing Collahuasi ore
3
Recoveries
Lower recoveries due to larger grind size and mineralogy of Collahuasi ore
4
Operating Cost
Increased mining costs to reflect higher strip ratio at Collahuasi
Fixed cost economies of scale expected to result in marginal reduction in unit costs
5
Capital
Limited additional infrastructure required - additional floatation tanks, ancillary equipment
~15km overland conveyor plus enlarged mine fleet
~US$1.9B preliminary capex estimate or capital intensity of US$11,000/t copper production
6
Timeline
Synergies expected to be delivered as early as 2030
~+175kt3
Debottlenecked QB production
Grade Throughput Recoveries QB-Collahuasi
1
2
3
upside
Expect 2-3 years for studies and permitting and up to two years for construction
CREATING ONE OF THE LARGEST GLOBAL COPPER COMPLEXES
QB-Collahuasi could be a leading global producer for decades
2030 Copper Production1
~QB-Collahuasi incremental production2
Copper Resources4
3
4
Measured and Indicated Inferred
~Los Bronces-Andina
adjacency3
MERGER OF EQUALS HAS MULTIPLE VALUE DRIVERS
From synergies and near-term asset optimization to future growth optionality
Corporate synergies
Near-term growth through asset optimization2
Medium-term capital efficient adjacencies
Future growth optionality
Corporate, Business
Overheads s Other
~US$210M
~US$800M
annual, recurring, pre-tax synergies1
Procurement
~US$490M
Marketing
~US$100M
QB Debottlenecking
Increase throughput to 165-185ktpd
Los Bronces Plant Restart Throughput increase from reopening the Los Bronces plant
Collahuasi Debottlenecking
Increase throughput to 210ktpd
Quellaveco Stage 1 Expansion
Increase throughput to 142ktpd
Highland Valley Copper MLE Life extension underway to extend mine life to 2046
Kumba UHDMS Increasing premium product mix, option to extend mine life to 2044
QB + Collahuasi
~175ktpa Cu - US$1.4B3 annual underlying EBITDA* uplift
of incremental copper production from 2030-2049 but expected to continue beyond this period (100% basis)2
Los Bronces + Andina
~120ktpa Cu - US$5B2 pre-tax NPV
of incremental copper production (21 years from 2030, 100% basis)
Minas-Rio + Serpentina
Potential additional high grade, friable iron ore resource accessible at Minas-Rio Adjacency secured C studies ongoing
Medium Term Developments
San Nicolás Zafranal
Brownfield Expansions / Mine Life Extensions
QB-Collahuasi Quelleveco Antamina
Los Bronces Integrado
Selected Greenfield Developments
Galore Creek Schaft Creek NuevaUnión NewRange Sakatti Woodsmith
MERGER OF EQUALS WILL DRIVE SIGNIFICANT VALUE
Strong EBITDA* growth from combined Anglo Teck
Highly capital efficient
incremental copper tonnes
Anglo
Teck
Anglo Teck EBITDA*
Corporate Synergies Low capital growth through
optimization
Adjacencies incl. QB/Collahuasi and LB/Andina
Future Growth Optionality Anglo Teck Potential
Near-term Priorities
Future Value
11
FOUNDATION OF WORLD-CLASS OPERATIONS
Critical minerals assets in established mining jurisdictions
1
1 2
Copper Operations
1
2
3
4
Highland Valley Antamina Quebrada Blanca
Carmen de Andacollo
2
3
Zinc Operations
1 Red Dog
2 Trail Operations
4
Top 10 copper producer operating in the Americas
Tier 1
Tier 1
Quebrada Blanca 60% ownership Potential to be a top 5 copper mine globally
Highland Valley
100% ownership
Canada's largest copper mine, life extension project under way to 2046
Antamina
22.5% ownership Currently 6th largest global copper mine1 with 1st quartile cost position
Carmen de Andacollo
G0% ownership
Low strip ratio, reliable copper producer
Largest net zinc miner globally
Tier 1
Red Dog
100% ownership
Large, high-grade
zinc mine with mine life extension potential
Trail
100% ownership
One of the largest integrated zinc smelting and refining complexes
ATTRACTIVE PORTFOLIO OF OPERATIONS AND PROJECTS
1 2
4
3
Copper Operations
3
1 2
1
2
3
4
Highland Valley Antamina Quebrada Blanca
Carmen de Andacollo
5
Copper Projects
1
2
3
4
5
6
Zafranal
San Nicolás Galore Creek Schaft Creek NewRange NuevaUnión
2
1
2
1
3
Zinc Operations
1
2
Red Dog
Trail Operations
6
4
Zinc Projects
1
2
3
Teena
Red Dog Mine Life Extension Cirque
Operations
Operating Assets
Brownfield Projects
Quebrada Blanca (QB)
QB Future Expansion
Antamina
Antamina Mine Life Extension
Highland Valley
Highland Valley Mine Life Extension (Sanctioned)
Carmen de Andacollo (CdA)
CdA Mine Life Extension
Red Dog
Red Dog Mine Life Extension
Trail
Trail Critical Minerals Opportunities
Projects
San Nicolás
NuevaUnión
Zafranal
Teena
Galore Creek
Cirque
NewRange
Schaft Creek
COST OF SALES
2025
Copper Cost of Sales1 (C$) Zinc Cost of Sales1 (C$)
Royalties
5%
Transportation 1%
Depreciation C Amortization 29%
Operating Costs 65%
Depreciation C Amortization 10%
Transportation 11%
Royalties 15%
Raw Material Purchases
26%
Operating Costs 38%
Copper Operating Costs1 (%) Zinc Operating Costs1 (%)
Labour
22%
Contractors C Consultants
24%
Operating Supplies C Parts
17%
Repairs C Maintenance Parts
17%
Energy and Others
20%
Total
100%
Labour 35%
Contractors C Consultants
11%
Operating Supplies C Parts
14%
Repairs C Maintenance Parts
10%
Energy
16%
Other Costs
14%
Total
100%
COLLECTIVE AGREEMENTS
Operation
Expiry Dates1
Highland Valley
September 30, 2026
Trail Operations
May 31, 2027
Antamina
July 31, 2027
Quebrada Blanca
January 31, 2028
March 31, 2028
November 30, 2028
Carmen de Andacollo
September 30, 2028
December 31, 2028
15
LATAM
OPERATIONS
16
Iquique
Santiago
Collahuasi
QB
QUEBRADA BLANCA
Tier 1, low-cost, long-life cornerstone asset
Large deposit capable of supporting multiple expansions
2
High reserve grade and low strip ratio, significant resource expansion over previous years, with further district-scale potential
3
At full capacity, QB is expected to generate strong cash flow, due to lower costs, low sustaining capital and capitalized stripping
Current mine life to 2050
Copper reserve grade1
202c copper production guidance2
$280M
2025 gross profit before D&A*
$120M
2025 gross profit
CODELCO INTEREST IN QUEBRADA BLANCA
Chilean state-run miner Codelco purchased Enami's 10% --funding interest in Compañía Minera Teck Quebrada Blanca S.A. (CMTQB) on September 5, 2024
Codelco is not required to fund QB development costs
Organizational Chart
Teck
100%
83.33%
1c.c7%
SMM
SC
Project equity funding in form of 25% Series A Shares and 75% Shareholder Loans
Until shareholder loans are fully repaid, Codelco is entitled to a minimum dividend, based on net income, that approximates 2.0-2.5% of free cash flow
- Thereafter, Codelco receives 10% of dividends / free cash flow
Codelco
TRCL
66.67%
10%
(Series B)
33.33%
JVCo
S0%
(Series A)
CMTQB
100%
Chile HoldCo
QB
ANTAMINA
One of the largest copper and zinc mines in the world by production
Antamina
1
Tier 1, high-grade copper-zinc deposit producing copper, zinc,
molybdenum, and lead concentrates
Low C1 costs due to high grade and zinc credits
Significant land position with both near and long-term expansion potential
Current mine life to 203c
Copper reserve grade1
202c copper production guidance2 (22.5%)
$370M
2025 gross profit before D&A*
$2G7M
2025 gross profit
* Gross profit before depreciation and amortization (D&A) is a non-GAAP financial measure. See "Non-GAAP Financial Measures and Ratios" slides. 19
Crushing and Material Transport System
East Waste Dump
Mine Operation Area
Tailings Facility
Open Pit
Tucush Waste Dump
ANTAMINA MINE LIFE EXTENSION
Extension to 2036, with potential beyond
Received regulatory approval to extend life of mine to 2036 in Q1 2024
Maintains current production profile of well known, proven asset
Extension is a low-risk US$2B investment (Teck's share: US$450M) over 8 years
to optimize and expand the existing facilities including:
A pit expansion with in-pit waste crushing and conveying systems to reduce haulage demands as the pit deepens
A 30m raise of the existing tailings dam to create additional tailings management facility capacity
New mining equipment and expanded truck shop
Opportunities to extend the mine life beyond 2036 are being studied
LE (LOM) Plan
Evaluation of Post-2036 Extension Options
Illustrative Timeline
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
CARMEN DE ANDACOLLO
CdA
Efficient operations
One of the Americas lower cost operations (on a $/t milled basis)
Operational and cost improvements driving results
Cash generative asset
current mine life to 2038
Copper reserve grade1
202c copper production guidance2 (100%)
$142M
2025 gross profit before D&A*
$106M
2025 gross profit
NORTH AMERICA OPERATIONS
22
HIGHLAND VALLEY COPPER
HVC
Vancouver
Canada's largest copper mine
Technology and Innovation underpins efficient, low-cost operations
Multiple pits and tailored flowsheet offers flexibility
Attractive, low risk, brownfield mine life extension
Including sanctioned mine life extension to 204c
Copper reserve grade including sanctioned mine life extension1
202c copper production guidance2
$286M
2025 gross profit before D&A*
$223M
2025 gross profit
RED DOG OPERATIONS IS A TIER ONE ASSET
Red Dog
The largest zinc critical minerals mine in the US
One of the world's largest zinc mines1
Built on a world-class mining district
Potential to extend mine life beyond current operation
current mine life to 2031
Zinc reserve grade2
202c zinc production guidance3
$200M
2025 gross profit before D&A*
$138M
2025 gross profit
RED DOG SEASONALITY
Sales
Historical Zinc Sales and Lead Sales1 (%)
Operates 12 months
Ships ~4 months
Shipments to inventory in Canada and Europe; direct sales to Asia
18%
0%
0%
~65% of zinc sales in second half of year
Zinc
27%
1G%
G%
44%
Lead
82%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
~99% of lead sales in second half of year
Sales seasonality causes net cash unit cost seasonality
Unit Costs
Seasonality of Red Dog net cash unit costs* largely
due to lead sales during the shipping season
Five-Year Historical Average Red Dog Net Cash Unit Costs*,2 (US$/lb)
$0.44
$0.27
$0.60 $0.58
Q1 Q2 Q3 Q4
RED DOG MINE LIFE EXTENSION
High grade, large-scale underground mine leverages existing mill & infrastructure
Overview
Zinc and lead grades deposits
Anarraaq contains Inferred resources1 of
17.0 Mt @ 14.0% Zn, 4.0% Pb
Aktigiruq contains Indicated resources1 of
42.2 Mt @ 15.8% Zn, 4.1% Pb and Inferred
of 18.8 Mt @ 11.8% Zn, 3.1% Pb
Expected to have 25+ years mine life,
producing >400ktpa1 of zinc
Relatively shallow underground mine
Specialty metals including germanium
Scope
Leveraging existing infrastructure
Surface resource drilling ongoing
Recently completed Scoping Study and entering PFS
Assessing development alternatives
Using existing RDO mill and
infrastructure
Permitting
NANA relationship
NEPA permitting requires EIS (expected to be a 4.5-year process beginning in 2026)
State mineral claims owned by Teck
Working on a new agreement for use of Red Dog facilities with the NANA
Illustrative Timeline
2025
2026
2027
2028
2029
2030
2031
2032
Extension Studies
Twin Decline Development
Mine
De ent
velopm
UG Production Commences
NEPA Process incl. permitting
TRAIL OPERATIONS
Focus on generation of EBITDA and free cash flow
Trail
Vancouver
1
Produce refined zinc and lead, precious and specialty metals, chemicals and fertilizer products
2 Strong strategic value enabling vertical integration for the zinc segment
3
Decades of experience employing recycling processes s new market opportunities emerging in critical minerals sector
COPPER GROWTH OPTIONS
28
PORTFOLIO OF VALUE-ACCRETIVE COPPER PROJECTS
Growth optionality focused in the Americas
North America Latin America
Galore Creek
Cu-Au-Ag | Greenfield | British Columbia | 50% ownership
Large, high-quality open-pit Cu-Au-Ag deposit
Schaft Creek
Cu-Mo-Au-Ag | Greenfield | British Columbia | 75% ownership
Large-scale, open-pit opportunity with
infrastructure synergies with Galore Creek
QB Optimization, Debottlenecking s Future Growth Opportunities
Cu-Mo-Ag | Brownfield | Chile | 60% ownership
Tier 1 asset with multiple growth options in the near- , medium-, and long-term
Zafranal
Cu-Au | Greenfield | Peru | 80% ownership
Permitted, medium-sized project with
elevated up-front production
NewRange
Cu-Ni-Co-Pd-Pt | Greenfield | Minnesota | 50% ownership
Two large copper-nickel-PGM projects
San Nicolás
Cu-Zn Ag-Au | Greenfield | Mexico | 50% ownership
Low capital intensity and strong returns expected
NuevaUnión
Cu-Mo-Ag and Cu-Au-Ag | Greenfield | Chile | 50% ownership
Large-scale open-pit opportunities with extensive copper resource base
QB HAS POTENTIAL FOR MULTIPLE EXPANSIONS
Staged copper growth opportunities unlock significant incremental value
Optimization
Target stable production of up to
~154 ktpd1 from 2029
Implementation through 2028
No additional permit required
Debottlenecking
Target throughput of
~165-185 ktpd1
Studies ongoing to identify opportunities, as well as post-merger approach
DIA permit submission 2027
QB/Collahuasi Adjacency
Most value accretive expansion
opportunity
Capital efficient growth -US$11,000/t Cu capital intensity
Future Growth Opportunities
Current, permitted plan uses
<15% of defined reserves and
resources2
Multiple configurations possible
QB'S R&R INCREASED SIGNIFICANTLY (60% OWNERSHIP)
Additional potential remains; district is prospective for Cu-Mo porphyry deposits
QB's Historical Reserves and Resources and Grade1 Mineral Reserves and Resources1
Category
Tonnes
Mt
Cu (%)
Grade
Mo (%)
Ag (g/t)
12,000
10,000
8,000
6,000
4,000
2,000
0
0.60%
Reserves
Proven
990.7
0.53
0.021
1.4
Probable
339.9
0.50
0.024
1.2
Total PsP
1,330.6
0.53
0.022
1.3
Resources
Measured
951.5
0.37
0.013
1.1
Indicated
3,580.9
0.38
0.018
1.2
Total MsI
4,532.4
0.38
0.016
1.2
Inferred
3,731.4
0.34
0.016
1.1
0.50%
0.40%
0.30%
0.20%
0.10%
0.00%
ZAFRANAL PROJECT OVERVIEW1
Mining Jurisdiction
Strong support from Peruvian regulators
Engaged with all communities
Building on >10 years of positive stakeholder engagement
Quality Investment
Attractive front-end grade profile for rapid payback
Mid cost curve forecast LOM C1 cash costs
Competitive capital intensity
Long Life Asset in Peru
Mine life extension opportunities through pit expansion and district resource development
Mid-sized copper-gold asset with robust economics and permit in place
Teck Ownership
Partner
Area
Project
80% interest in Compañía Minera Zafranal (CMZ)
Mitsubishi Materials Corporation (20%)
Arequipa, Southern Peru
Cu-Au porphyry
ZAFRANAL SITE LAYOUT
Good access to well-developed infrastructure at moderate altitude
Existing roads
Main access road C water pipeline
Planned power line
Mine: Copper-gold porphyry open pit mine in Zafranal and Victoria zones
View to West
20km
220kV Power Line
Substation
TMF
Mill + Mine
Port
Water
Mill: Nominal 65ktpd capacity mill, concentrator and plant facilities; conveyor tunnel
3.5km from mine
Sustainable Water Source: Majes El Pedregal brackish aquifer wellfield (50km from mine), powered by 66kV power line
Power: 96km, 220kV power line from substation near Arequipa to Zafranal site
Port: Port of Matarani, which services major base metal mines in the region
RESERVES AND RESOURCES AT ZAFRANAL (80%)
Strong ore body knowledge to deliver on business plan
Geological Cross-Section1
Category
Tonnes
Mt
Grade
Cu (%)
Au (g/t)
Zafranal Main Zone - Central Long Section
Mineral Reserves and Resources1
Reserves
Proven
408.8
0.39
0.07
Probable
32.0
0.21
0.05
Total PsP
440.7
0.38
0.07
Resources
Measured
5.1
0.19
0.04
Indicated
2.3
0.21
0.05
Total MsI
7.4
0.20
0.04
Inferred
62.8
0.24
0.10
A
A'
195
Leached/Oxide/Mixed
Cu%
Zafranal Main Zone Plan Map
500m
195
28m @ 0.60% Cu,
0.17g/t Au from 304m
12m @ 0.69% Cu,
0.19g/t Au from 410m
150m wide section, looking 357 deg (North)
Selected Production Metrics
Y1
Y2
Y3
Y4
Y5
5Yrs Avg. LOM Avg.
Cu Grade (%)
0.71
0.89
0.55
0.55
0.42
0.58
0.36
SAN NICOLÁS PROJECT OVERVIEW
Mining Jurisdiction
Well-established mining district in Mexico
Community engagement well established and positive
Quality Investment
LOM C1 cash costs in the 1st quartile
Highly competitive capital intensity
Co-product Zn and by-product Au and Ag credits
Potential Long Life Asset in Mexico
Initial 15-year mine plan with multiple targets for mine life extension
Excellent access and logistics for construction and operations
Unique and high-quality mid-sized base metal development asset with high average copper-zinc grades and low capital intensity
Teck Ownership
Joint Venture Partner
Area
Project
50%
Agnico Eagle (AEM) (50%)
Zacatecas, Mexico
Cu-Zn, Ag-Au VHMS
SAN NICOLÁS - COMPACT SITE LAYOUT1
At moderate elevation in an established mining region; adjacent to infrastructure
1 Km
~ El 2,234 m
~ El 2,110 m
General Site Layout and Access
Mine: Conventional open-pit mine and concentrator operation; strip ratio of 6:1 (waste:ore) expected
Mill: Nominal 20ktpd1 plant producing copper and zinc concentrate
Water: Water sourced from pit dewatering
Power: Evaluating
power supply options
Community: Strong support from communities
RESERVES AND RESOURCES AT SAN NICOLÁS (50%)
Well Defined Orebody1
NW
Mineral Reserves and Resources1
250 m
2020
Tonnes
Grade
Category
Mt
Cu (%)
Zn (%)
Reserves
Proven
47.7
1.26
1.6
Probable
57.5
1.01
1.4
Total PsP
105.2
1.12
1.5
Resources
Measured
0.5
1.35
0.4
Indicated
6.1
1.17
0.7
Total MsI
6.6
1.18
0.7
Inferred
4.9
0.94
0.6
Reserves Pit
NEWRANGE CU-NI-CO-PD-PT DEPOSITS (50%)
Responsible delivery of critical metals to support the energy transition
JV provides enhanced asset development path
Our 50:50 joint venture (JV) with Glencore combines the NorthMet and Sunrise (Mesaba) projects in the established Iron Range region of Minnesota under one management team and approach
The partners complementary skillsets and relationships expected to contribute to timely and successful development of NorthMet and Sunrise
Two large copper-nickel-PGM projects
At NorthMet, the JV plans to build and operate a 29,000 tonne-per-day mine and processing facility
Using existing infrastructure for processing facilities
Sunrise is one of the world's largest undeveloped copper-nickel-
PGM deposits with potential for multi-generational production
Defining a path to production
JV committing up to US$170M to position NorthMet for a timely sanction decision and to advance Sunrise development options
Potential development optimization with existing infrastructure in
the area and region
Mineral Resources1
Grades
Resources
Tonnes
(Mt)
Cu
(%)
Ni
(%)
Co
(%)
Pd
(g/t)
Major source of critical metals in North America
NORTHMET
Measured
287.6
0.26
0.08
0.007
0.24
Indicated
353.4
0.25
0.07
0.007
0.23
Total M&I
641.0
0.25
0.08
0.007
0.23
Inferred
406.5
0.26
0.07
0.006
0.24
SUNRISE
Measured
459.6
0.39
0.09
0.009
0.11
Indicated
1,892.4
0.32
0.07
0.009
0.11
Total M&I
2,352.0
0.36
0.08
0.009
0.11
Inferred
2,316.8
0.27
0.07
0.008
0.15
GALORE CREEK CU-AU-AG PORPHYRY (50%)
Advancing a large, high-quality undeveloped Cu-Au-Ag deposit in NW BC
Quality investment and partnership
The project is owned by the Galore Creek Partnership (Teck:Newmont 50:50) and managed by Galore Creek Mining Corporation (GCMC); located in Tahltan Territory ~370km NW of Smithers, British Columbia
Strong technical, commercial, and community expertise in GCMC is enhanced with contributions from the Partners
Long-life asset
Among the highest-grade undeveloped copper-gold porphyry deposits in the world; significant resource expansion and exploration upside potential
Clear path to value realization
Prefeasibility study in progress
Leverage existing camps, equipment and tunnel start to advance early-works to de-risk and shorten development timeline
Long-standing partnership with the Tahltan First Nation including a
supportive Participation Agreement
Mineral Resources1
Grades
Tonnes Cu Au Ag
Resources (Mt) (%) (g/t) (g/t)
Measured
425.7
0.44
0.29
4.1
Indicated
771.2
0.47
0.22
4.8
Total M&I
1,196.8
0.46
0.25
4.5
Inferred
237.8
0.26
0.19
2.6
Exceptional discovery potential in under-explored district
NUEVAUNIÓN CU-MO-AG AND CU-AU (50%)
Significant long-term opportunity in an expanding district
Leveraging synergies and expertise in a stable jurisdiction
NuevaUnión is a 50:50 partnership between Teck and Newmont that combines the Relincho Cu-Mo-Ag deposit the La Fortuna Cu-Au-Ag deposit, located ~40km apart in the established mining jurisdiction of Huasco Province, Atacama region Chile
Synergies include reduced environmental footprint, shared infrastructure, lower relative costs, improved capital efficiency, optimized mine plan, and enhanced community benefits
Long-life asset
Prefeasibility study completed in 2019
Strategic studies build on recent technical, social, and environmental studies, to advance the best commercial development strategy
Recent activities focused on optimization and strategic trade-offs and asset reviews, which demonstrated value improvement opportunities and attractive potential alternate development configurations with lower initial capital, underpinned by the large, high quality resource base
Mineral Reserves and Resources1
Grades
Tonnes
(Mt)
Cu
(%)
Mo
(%)
Au
(g/t)
Ag
(g/t)
RELINCHO
Reserves
Proven
576.4
0.34
0.014
-
1.6
Probable
977.4
0.36
0.017
-
1.5
Total P&P
1,553.8
0.35
0.016
-
1.5
Resources
Measured
319.0
0.19
0.006
-
1.0
Indicated
463.0
0.26
0.009
-
1.2
Total M&I
782.0
0.23
0.008
-
1.1
Inferred
724.7
0.36
0.012
-
1.3
LA FORTUNA
Reserves
Proven
386.8
0.58
-
0.55
0.9
Probable
295.4
0.42
-
0.36
0.7
Total P&P
682.2
0.51
-
0.47
0.8
Resources
Measured
9.6
0.42
-
0.47
0.9
Indicated
236.7
0.51
-
0.59
1.1
Total M&I
246.3
0.51
-
0.59
1.1
Inferred
479.7
0.43
-
0.40
1.0
Relincho deposit area.
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Teck Resources Limited published this content on April 22, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 23, 2026 at 14:03 UTC.