Our Energy Business
Our energy business includes a 20% interest in the Fort Hills oil sands project and 100% ownership of the Frontier oil sands project. Both of these properties are located in the Athabasca oil sands region of Alberta, Canada.
In January 2012, Teck entered into an agreement to acquire SilverBirch Energy Corporation and the company’s 50% interest in the Frontier oil sands project. On April 4, 2012, this transaction closed, giving Teck sole ownership of the Frontier project. As a result, our best estimate of total contingent resources has increased by 67% to a total of 3.5 billion barrels of bitumen. Learn more.
These valuable long-term assets will be mined using conventional technologies that build upon our core skills of large-scale truck and shovel operations.
In moving forward with our oil sands properties, we are researching methods to improve extraction and processing, and we are encouraged by the progress of the industry towards improving technology and production processes, reducing water consumption, improving tailings management, and increasing land reclamation and revegetation.
Teck's first investment in wind energy, the Wintering Hills Wind Power Facility, went into full operation in November 2011. Teck has a 30% interest in Wintering Hills, located near Drumheller, Alberta.
Last updated: February 7, 2013