Teck's Financial and Operations Outlook
Teck
Meaningful Capital Spending Decrease Expected in 2024
Capital Investments Profile1 ($M)
3.6
QB2 (100%)
1.6
16
5.4
5.1
3.0
4.7
2.1
2.6
-$3.6-4.4
•
0.7-0.9
Reduction of ~$1.2 billion² in 2024
•
•
•
QB2 development capital significantly lower
as project nears completion
Sustaining capital increases marginally
Completing KIVCET boiler repairs at Trail
Reaching peak capital for Elkview
administration & maintenance complex
Capitalized stripping declines from 2023 peak
Growth capital (ex-QB2) prioritized on copper
growth projects
-
HVC mine life extension (100% owned)
San Nicolás (50% partner with AEM)
Zafranal (80% partner with Mitsubishi)
Steelmaking coal accounts for $1.35-$1.75B of
sustaining capital and capitalized stripping in 2024
0.5-0.6
0.5
.
0.3
1.1
0.9-1.1
0.6
1.0
0.5
Growth (ex-QB2)
Capitalized Stripping
0.5
0.6
1.5-1.8
1.4
1.1
Sustaining³
1.0
0.9
2020
2021
2022
2023
2024E
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