Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") announced today that initiatives deployed through its technology transformation programs, highlighted by the signature RACE21™ program, are expected to generate approximately $1.1 billion in recurring, annualized benefits through enhanced operational performance, safety and sustainability.

"From advanced analytics to machine learning to automation, our RACE21™ program has built on our long-standing focus on technology and innovation to generate significant new benefit through improved operational performance, safety and sustainability, helping to solidify Teck's position as a technology leader in our industry," said Don Lindsay, President and CEO. "As we look to the future, we will continue to leverage digital innovation to more efficiently and sustainably produce the metals and materials needed for a low-carbon world."

RACE21™ Benefits Creation
RACE, which stands for Renew, Automate, Connect and Empower, has been a catalyst for transformative change across Teck and was a contributor to our record-setting performance in 2021. Between 2019-2021, RACE21™ delivered initiatives expected to generate approximately $900 million in recurring annualized benefits using long-range planning price assumptions. Anticipated benefits build on the estimated $200 million of recurring annualized benefits generated through earlier technology initiatives. Assuming spot prices as of March 31, 2022 and planned production and sales, Teck estimates that anticipated benefits could be up to approximately $1.7 billion annually.

RACE21™ enhanced operational performance in the following core areas:

Mine Optimization – $450 Million: Leveraging data, machine learning and digital applications across Teck's mining equipment has increased truck productivity by up to 10% at certain operations, reduced drilling and fuel costs, and optimized the quality of material going to processing plants. For example, at our Fording River Operations, machine learning models use real-time information such as truck speed and location to quickly identify road maintenance tasks and the optimal allocation of trucks to maximize production. At our Red Dog Operations, visualization and 3D modelling applications are used to accurately predict the movement of material during a blast, improving the zinc grade delivered to the plant by about 5%. Similar approaches at our Elkview Operations reduced ash variability of material in the plant, increasing plant yield by approximately 0.5% starting in December 2021.

Processing Improvements – $300 Million : Automation and machine learning models within Teck's processing plants increased throughput capacity by up to 9%, and recovery by up to 3% at certain sites. For example, at our Red Dog Operations, automation has been used to improve stability of grinding mill processes, increasing production rates by 9%. At our Highland Valley Copper Operations, automation and machine learning models that use real-time information from flotation processes – such as chemical addition and equipment settings – resulted in a 3% increase in copper recovery. Combined with simulation models that track ore characteristics through our grinding mills, process control enhancements and data analytics that support more informed blasting decisions, the site has realized a 15% increase in mill throughput capacity.

Integrated Operations and Maintenance – $150 Million: Digital planning applications that better connect operations with logistics teams have reduced costs and maximized throughput between Teck's steelmaking coal operations and the recently upgraded Neptune Bulk Terminals. Automated train loading at our Fording River Operations has increased loading per car by 2% and loading speed by 40%. Predictive maintenance enabled by equipment sensors has reduced equipment downtime and operational interruptions across all sites.

Reducing Health & Safety Risk: Safety initiatives at various Teck operations, including light vehicle monitoring systems, collision and proximity detection and autonomous haulage systems, have reduced the overall risk associated with vehicle interactions and contributed to a 38% reduction in Teck's high-potential incident frequency in 2021 compared to the previous year.

Enhancing Sustainability: Digital technology is being implemented across Teck operations to improve decision making in the areas of water use, air quality and energy consumption. For example, at our Trail Operations various automation initiatives increased throughput of the KIVCET dryer and at the same time reduced sulphur dioxide emissions by 19% in 2021 compared to the previous year. At our Fording River Operations, we are developing machine learning using weather and water quality data to provide enhanced operational recommendations for water storage and movement within the mine.

These RACE21™ initiatives follow Teck's other successful technology programs, including our previously announced adoption of saturated rock fill technology for our Elk Valley Water Quality Program, which has accelerated the implementation of water treatment in the Elk Valley and offers a sustainable long term alternative to conventional tank-based treatment plants.

"RACE21™ represents the latest advancement in a long history of technology and innovation at Teck," said Andrew Milner, Senior Vice President and Chief Transformation Officer. "Teams of developers, data engineers, data scientists, and user experience designers are leveraging data and knowledge, while collaborating with our operations, to solve complex problems in real-time. The work we have done is embedded across the organization, helping to offset increasing haulage profiles, declining ore grades, and significant inflationary impacts that Teck and the rest of the global mining industry are experiencing."

Expected annualized benefits are measured by the average of current and estimated future pre-tax cash flow impacts of the various initiatives, based on a number of assumptions, including assumptions regarding the ramp-up of the initiatives, production, commodity price, exchange rate and sales and other assumptions, and aggregating those estimated impacts to estimate expected future benefits. Some benefits are not expected to be fully realized until future periods, and the expected impact of these initiatives is taken into account in our existing guidance.

Forward-Looking Statements
This news release contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "should", "believe" and similar expressions is intended to identify forward-looking statements. 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. These statements speak only as of the date of this presentation.

The forward-looking statements in this news release include but are not limited to: the statements of the benefit expected to be generated by RACE21™ and Teck's other technology initiatives; and the improvements expected to be delivered, or continuation of improvements already delivered, by those initiatives, including but not limited to increased truck productivity, production rates, copper recovery, increased mill throughput. Anticipated benefits to be generated are not a guarantee of any level of future financial, operational, or other results.

These statements are based on a number of assumptions, including, but not limited to: assumptions regarding future commodity prices and the prices we will achieve for our products and that all production is sold at these assumed prices; foreign exchange rate assumptions; assumptions regarding future production, and the improvements to future production associated with the RACE21™ and other technology initiatives; assumptions regarding our ability to sell all production; assumptions the RACE21™ and other initiatives are further implemented and scaled in accordance with current plans; assumptions that future implementation and scaling will achieve the benefits expected; assumptions regarding general business and economic conditions and the supply and demand for, deliveries of our products. The foregoing list of assumptions is not exhaustive. Events or circumstances could cause actual results to vary materially.

Factors that may cause actual results to vary materially include, but are not limited to: actual commodity prices and the prices that we achieve for our products; difficulties or inability to implement or scale technology initiatives; changes in demand for our product; actual production and our ability to sell all production as assumed; changes in currency exchange rates; unanticipated operational and construction difficulties that result in Teck not achieving its anticipated sales, production or other targets; changes at our operations, including but not limited to grades, that impact the expected benefits of our initiatives; unanticipated difficulties in realizing or continuing to realize the benefits of our initiatives; and other factors that impact our business generally. The foregoing list of factors is not exhaustive.

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 and our business can be found in our Annual Information Form for the year ended December 31, 2021, filed under our profile on SEDAR ( ) and on EDGAR ( ) under cover of Form 40-F, as well as subsequent filings that can also be found 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 or follow @TeckResources.

Teck Media Contact:
Chris Stannell
Public Relations Manager

Teck Investor Contact:
Fraser Phillips
Senior Vice President, Investor Relations and Strategic Analysis

Primary Logo

News Provided by GlobeNewswire via QuoteMedia

American West Metals

Drilling at West Desert Confirms New Mineralised Zone

American West Metals Limited (American West or the Company) (ASX: AW1) is pleased to announce that drill hole WD22-19 - the first exploration drill hole completed by American West - has delivered a discovery that may potentially represent a significant extension of the known mineralisation at the West Desert Project in Utah (West Desert or the Project).

Keep reading...Show less

Teck Announces Cash Tender Offer for up to US$500 million of Debt Securities

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") announced today that it commenced a cash tender offer (the "Tender Offer") to purchase up to US$500 million aggregate principal amount (subject to increase or decrease by Teck, the "Aggregate Maximum Tender Amount") of its outstanding notes listed in the table below (collectively, the "Notes" and each a "Series" of Notes), in the order of priority shown in the table below.

Acceptance Priority Level CUSIP / ISIN Title of Security
Aggregate Principal Amount Outstanding
Reference U.S. Treasury Security Bloomberg Reference Page Fixed Spread (basis points) (1)
1 878742AW5 / US878742AW53 6.250% Notes due 2041 US$794,717,000 3.250% U.S. Treasury due May 15, 2042 FIT1 230
2 878742AE5 / US878742AE55 6.125% Notes due 2035 US$609,355,000 2.875% U.S. Treasury due May 15, 2032 FIT1 230
3 878742AS4 / US878742AS42 6.000% Notes due 2040 US$490,670,000 3.250% U.S. Treasury due May 15, 2042 FIT1 230
4 878742AZ8 / US878742AZ84 5.400% Notes due 2043 US$376,908,000 3.250% U.S. Treasury due May 15, 2042 FIT1 230
5 878744AB7 / US878744AB72 5.200% Notes due 2042 US$399,043,000 3.250% U.S. Treasury due May 15, 2042 FIT1 230
6 878742BE4 / US878742BE47
878742BG9 / US878742BG94
3.900% Notes due 2030 US$550,000,000 2.875% U.S. Treasury due May 15, 2032 FIT1 195

(1) Includes the Early Tender Premium of US$50 per US$1,000 principal amount of Notes for each Series (the "Early Tender Premium").

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Hudbay Receives Favourable U.S. District Court Ruling on Copper World

Hudbay Minerals Inc. ("Hudbay" or the "company") ( TSX, NYSE: HBM) received a favourable decision from the U.S. District Court for the District of Arizona ("District Court") relating to the company's Copper World project in Arizona. The District Court ruled in favour of Hudbay on all issues, including that Copper World and Rosemont are not connected under the National Environmental Policy Act ("NEPA") and, therefore, that the Army Corps of Engineers ("ACOE") does not have an obligation to include Copper World as part of its NEPA review of Rosemont. The District Court also granted Hudbay's motion to dismiss the Copper World preliminary injunction request filed by the plaintiffs in the two lawsuits challenging the Section 404 Clean Water Act permit for Rosemont on the basis that the lawsuits are moot after the company surrendered its 404 permit back to the ACOE in April 2022. The ACOE has never determined that there are jurisdictional waters of the U.S. on the Copper World site and Hudbay has independently concluded through its own scientific analysis that there are no such waters in the area.

In April 2022, the company commenced early site works at Copper World with initial grading and clearing activities continuing at site. The company also continues exploration and technical work at site with seven drill rigs conducting infill drilling and supporting future feasibility studies.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
copper pipes and wire

VIDEO — Joe Mazumdar: Copper is the Commodity of the Decade, Ways to Get Exposure

Joe Mazumdar: Copper is the Commodity of the Decade, Ways to Get

Investors often focus on the commodities of the moment, but which have potential over the next decade?

Speaking to the Investing News Network at the recent Vancouver Resource Investment Conference (VRIC), Joe Mazumdar, editor of Exploration Insights, said copper is his pick.

"Some of it's battery metal exposure, it's construction," he said. "But also on the supply side, the lack of development projects and the higher permitting risk combined with more geopolitical risk in two of the major producers, Chile and Peru. They might have issues with production into a market (where) demand might grow."

Keep reading...Show less
Nova Royalty Corp.

Nova Secures Right To Acquire A Royalty On Lundin Mining's Josemaria Copper Project

Nova Royalty Corp. ("Nova" or the "Company") (TSXV: NOVR) (OTCQB: NOVRF) is pleased to announce that it has entered into a purchase agreement (the "Agreement") with arms' length private parties (the "Sellers") pursuant to which Nova has secured the right to acquire a portion of an existing royalty (the "Royalty") on the Josemaria copper-gold-silver project in San Juan, Argentina ("Josemaria"), owned by Lundin Mining Corporation ("Lundin Mining") (TSX:LUN) (Nasdaq Stockholm: LUMI), (the "Transaction"). Nova will also be granted a Right of First Refusal (the "ROFR") in respect to an additional portion of the Royalty that will be retained by the Sellers upon closing of the Transaction.


Keep reading...Show less