Teck Resources Business Summary

Teck Resources Limited (TECK) is a leading Canadian producer of critical minerals, having completed a strategic transition into a pure-play energy transition metals company following the 2024 divestment of its steelmaking coal business to Glencore for US$6.93 billion. The company generates revenue through the extraction and sale of copper and zinc, organized into two primary regional business units: North America and Latin America. Key operational assets include the Highland Valley Copper mine in British Columbia, the Red Dog zinc mine in Alaska, and the flagship Quebrada Blanca (QB2) copper operation in Chile, which is a primary driver of the company's goal to double copper production by 2030. In late 2025, Teck entered a transformational "merger of equals" with Anglo American to form Anglo Teck, a move designed to create a top-five global copper producer. Its primary direct competitors include Freeport-McMoRan, BHP, Glencore, and Southern Copper, with Teck currently positioned as a high-growth specialist in the Americas-focused critical minerals market. Leadership is currently spearheaded by President and CEO Jonathan Price, who joined Teck in 2020 after a 14-year tenure at BHP, where he served as Chief Transformation Officer. The executive team includes Crystal Prystai as Executive VP and CFO, Ian Anderson as EVP and Chief Commercial Officer, and Karla Mills as EVP and Chief Project Development Officer. The company’s historical pedigree is deeply tied to the Keevil family, with Norman B. Keevil III serving as Vice Chair of the Board and the family maintaining significant influence through Temagami Mining Co. Ltd. The Board is chaired by Sheila A. Murray, a veteran corporate director and former President of CI Financial Corp. Notable institutional investors and strategic partners include the China Investment Corporation (CIC), Vanguard Fiduciary Trust Co., and Sumitomo Metal Mining Co., Ltd., the latter of which remains a key joint-venture partner in Teck's Chilean copper operations.