Teck Resources Limited today announced that it has executed a US$4.0 billion sustainability-linked revolving credit facility . “Sustainability is at the heart of everything we do, and we’re always working to make our sustainability performance even stronger,” said Don Lindsay, President and CEO. “This sustainability-linked facility more fully integrates our performance against our sustainability goals with ...

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") today announced that it has executed a US$4.0 billion sustainability-linked revolving credit facility ("SL RCF").

"Sustainability is at the heart of everything we do, and we're always working to make our sustainability performance even stronger," said Don Lindsay, President and CEO. "This sustainability-linked facility more fully integrates our performance against our sustainability goals with our financing plan."

Under the SL RCF the price paid by Teck will increase or decrease based on the company's performance in reducing carbon emissions, improving health and safety, and strengthening gender diversity in its workforce. The new credit facility matures in October 2026, extending the previous facility by two years. The principal amount outstanding as of October 18 was US$198 million as compared to US$502 million as of June 30, 2021, and it is expected to be at zero by end of October 2021.

The SL RCF is aligned with Teck's long-term sustainability strategy, which sets out goals including reducing carbon intensity by 33% by 2030 and becoming carbon neutral across operations by 2050. Learn more about Teck's sustainability strategy here .

In addition to converting and extending its US$4 billion revolving credit facility, Teck has also cancelled its US$1 billion side car that was scheduled to mature in June 2022. This side car facility was established during the initial months of COVID 19, and market conditions and commodity prices have improved significantly since that time.

Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information as defined in the Securities Act (Ontario).  The forward-looking statements relate to our long-term sustainability strategy, including but not limited to our 2030 and 2050 goals, and our expectation that our revolving credit facility will be undrawn by the end of October 2021. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this press release are based on assumptions regarding commodity prices, general economic conditions and the performance of our business, as well as our ability to achieve our climate goals and the longer term impacts of those goals on our business, among other matters. The foregoing list of assumptions is not exhaustive. Factors that may cause actual results to vary include, but are not limited to, changes in commodity prices or general economic conditions, unexpected disruptions of logistics or financial markets, actual climate-change consequences, adequate technology not being available on adequate terms, and changes in laws and governmental regulations or enforcement thereof that impact our operations or strategy. We assume no obligation to update forward-looking statements except as required under securities laws.

Further information concerning risks and uncertainties associated with these forward-looking statements can be found in our annual information form for the year ended December 31, 2020, filed under our profile on SEDAR ( www.sedar.com ) and on EDGAR ( www.sec.gov ) under cover of Form 40-F, as well as subsequent filings under our profile.

About Teck
As one of Canada's leading mining companies, Teck is committed to responsible mining and mineral development with major business units focused on copper, zinc, and steelmaking coal, as well as investments in energy assets. Copper, zinc and high-quality steelmaking coal are required for the transition to a low-carbon world. Headquartered in Vancouver, Canada, Teck's shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources .

Teck Media Contact:
Chris Stannell
Public Relations Manager
604.699.4368
chris.stannell@teck.com

Teck Investor Contact:
Fraser Phillips
Senior Vice President, Investor Relations and Strategic Analysis
604.699.4621
fraser.phillips@teck.com


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

Rio Tinto Reports Final Results at Rafuse Target; Exploration Update at Forum's Janice Lake Copper/Silver Project, Saskatchewan

Rio Tinto Reports Final Results at Rafuse Target; Exploration Update at Forum's Janice Lake Copper/Silver Project, Saskatchewan

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or "Company") announces the final set of assay results from Rio Tinto Exploration Canada's ("Rio Tinto" or "RTEC") summer drill program at the Rafuse target on Forum's 100% owned Janice Lake coppersilver project in Saskatchewan (Figure 1).

RTEC reports that it has spent $14 million in exploration expenditures to date, which exceeds the $10 million required to earn a 51% interest in the Janice Lake project. Rio Tinto does not plan an exploration program for the 2022 budget year. A $100,000 cash payment to Forum is due on or before May, 2022 to complete its 51% earn-in obligation.

Keep reading... Show less

Teck Media and Investor Webcast Advisory

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") President and Chief Executive Officer Don Lindsay will be presenting at the Scotiabank Mining conference on Tuesday, November 30, 2021 at 10:30 a.m. Eastern7:30 a.m. Pacific time. The investor presentation will include information on company strategy, financial performance, and outlook for the company's business units.

The fireside chat presentation will be webcast through the following link at:
https://wsw.com/webcast/bns20/teck/1653795 .

Keep reading... Show less

Hudbay Announces Senior Management Appointments

Hudbay Minerals Inc. ("Hudbay" or the "company") ( TSX, NYSE: HBM) is pleased to announce the appointment of Andre Lauzon as its Senior Vice President and Chief Operating Officer, effective January 4, 2022. He replaces Cashel Meagher, Senior Vice President and Chief Operating Officer, who has provided notice that he will be leaving the company to pursue other interests. Mr. Lauzon, who is currently the Vice President of Hudbay's Arizona Business Unit, has been working closely with Mr. Meagher over the past several years on key growth projects in Manitoba and Arizona and his appointment ensures a seamless transition in accordance with the company's succession plan as Hudbay continues to pursue its growth objectives.

"Andre's appointment demonstrates the deep operational and technical bench strength at Hudbay. His promotion reflects both his readiness and his valued expertise and comes at an opportune time as our operations are embarking on a period of significant production and cash flow growth with the recent completion of our major brownfield investment programs. We look forward to having Andre play a key role in delivering our next stage of growth with our leading organic pipeline," said Peter Kukielski, President and Chief Executive Officer. "We are grateful for Cashel's contributions in various roles at Hudbay over the past 13 years, including his leadership in building our South America business, and we wish him well in his future endeavours. I look forward to continuing to work with our talented, effective and innovative operating and technical teams under Andre's leadership."

Keep reading... Show less
Benton and Sokoman Announce Gold Discovery at the Grey River Gold Project, Southern Newfoundland

Benton and Sokoman Announce Gold Discovery at the Grey River Gold Project, Southern Newfoundland

Assays for six of 13 core samples, "super rushed" for assay, return from 1.34 to 37.64 g/t Au.

Benton Resources Inc. (TSXV: BEX) ("Benton") and Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ("Sokoman"), together (the "Alliance"), are pleased to announce that preliminary results from the maiden drill program at Grey River, Newfoundland, have returned multiple drill intersections of potentially significant gold mineralization. Program highlights include:

Keep reading... Show less
Los Andes Copper Starts Trading on the OTCQX

Los Andes Copper Starts Trading on the OTCQX

Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") is pleased to announce that it has begun trading on the OTCQX® Best Market. Los Andes upgraded to OTCQX from the Pink® market.

The Company begins trading today on OTCQX under the symbol "LSANF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.

Keep reading... Show less
Opawica Applies for Drill Permits on 14 High Priority Targets at Bazooka

Opawica Applies for Drill Permits on 14 High Priority Targets at Bazooka

(TheNewswire)

Opawica Explorations Inc.

TheNewswire November 24 th 2021 - Opawica Explorations Inc. (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the "Company" or "Opawica") has commenced the drill permitting process on its recently identified 14 high property gold targets at the Bazooka Property of the Abitibi Gold Camp.

Keep reading... Show less

Top News

Related News