Teck is a diversified resource company committed to responsible mining and mineral development. Headquartered in Vancouver, Canada, we are a significant producer of copper, the second largest seaborne exporter of steelmaking coal and the third largest producer of zinc concentrate. We are also a producer of molybdenum and specialty metals.
Teck has interests in several oil sands development assets and an extensive portfolio of copper, zinc and gold exploration properties.
We own or have interests in 13 mines in Canada, the USA, Chile and Peru, as well as one metallurgical complex in Canada. Our expertise spans across the full range of mining activities including exploration, development, smelting, refining, safety, environmental protection, product stewardship, recycling and research.
We are actively exploring in countries throughout the Americas, Asia Pacific, Europe and Africa.
Our goal is to build a diversified mining company, active in low-risk jurisdictions, with a solid Canadian base. Our strategy is based on the belief that over the long-term, a diversified mining company is more highly valued than a single commodity company as we are able to pursue the best mining investment opportunities and not be constrained by commodity.
Our strategies in our current business sectors are:
Coal: As the world’s second largest seaborne exporter of steelmaking coal, grow our participation in this market through our existing resource base, in accordance with the demand of the global steel industry. On average, the reserve life of our six mines is 25 years, with significant resources beyond that.
Copper: As a significant copper producer, continue to grow our copper business by optimizing production potential at our existing five mines , develop our extensive portfolio of potentially long-life copper resources and discover new resources in our extensive and highly prospective property portfolio.
Zinc: As the third largest miner of zinc in the world, secure and improve the value of our long life assets in this business by supporting market growth initiatives.
Gold: Explore, find, and develop gold resources through our targeted exploration activity in secure jurisdictions, and capture the value accorded to gold properties through periodic divestitures into an opportune gold market.
Energy: Develop our extensive oil sands resource base into multi-generation oil production.
(1) Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Teck to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward-looking statements include, but are not limited to, statements relating to our future production and sales.
Our balance sheet is strong. Focused leadership and prudent management have resulted in a debt capital structure comparable to the major diversified mining companies. Beginning in late 2008, total debt was reduced by C$8.1 billion over 18 months, contributing to an investment grade credit rating and a net debt to net-debt-plus-equity ratio well within our targeted range.
Reflecting the strength of the balance sheet, Teck currently pays an annual dividend of C$0.90 per share, C$0.45 paid semi-annually.
Our business fundamentals are strong. With increasing copper and coal production, combined with significant reserves and resources, Teck is well positioned for future growth.
Operating responsibly and sustainably is what drives our approach to business and is inherent in our culture.
For us, this is embodied by three core principles:
Safety: We constantly strive to create a company that is a special place to work and where a ‘safety first’ attitude permeates our culture. This is embodied by our vision of “Everyone Going Home Safe and Healthy Every Day.” Read more.
Environment: We work hard to protect the environment and always strive to act with care and sensitivity towards our surroundings. Our people take this responsibility seriously and show dedication towards environmental stewardship. Read more.
Community Engagement: We are committed to community engagement and investment in the places where we live and work. Through early, meaningful engagement, we aim to develop open, honest and respectful relationships and partnerships with the communities in which we explore, construct and operate. Read more in our Society page and our Community Investment page.