Teck's Financial and Operations Outlook
Teck
QB Production Ramp-Up On Track
Operational and Project Update
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Ramp up continues in 2024, with planned maintenance shut-downs
through Q1
Molybdenum plant construction was substantially complete as
planned by the end of 2023 and commissioning is well underway
• All in-water works at the port have been successfully completed
Outlook and Guidance
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Unchanged capital cost guidance of US$8.6-$8.8B; no capitalized
ramp-up costs expected in 2024
On track to finalize construction of offshore facilities at the port by
the end of Q1 2024 and to ramp up the molybdenum plant by the end
of Q2 2024
Expect progressively stronger production from QB, with full year
copper in concentrate production guidance between 230-275kt
QB net cash unit cost* guidance for 2024 of US$1.95-2.25/lb,
reflecting alternative logistics costs, no moly production in Q1,
ramp-up continuing, and inflationary pressures including increased
Chilean energy costs
* Net cash unit costs per pound is a non-GAAP ratio. See "Non-GAAP Financial Measures and Ratios" slides.
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