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Teck Resources Ltd
Symbol TECK
Shares Issued 483,046,012
Close 2025-09-03 C$ 46.59
Market Cap C$ 22,505,113,699
Recent Sedar+ Documents

Globe says Teck hopes Malchuk is QB2's Mr. Fix-It

2025-09-04 08:36 ET - In the News

The Globe and Mail reports in its Thursday edition that Teck Resources is undertaking an overhaul at its Quebrada Blanca site and cutting ties with its chief operating officer after years of operational problems at the Chilean mine. The Globe's Niall McGee writes that Teck said in a statement that it has started a comprehensive review aimed at fixing the problems with phase 2 of the Quebrada Blanca operation, or QB2, including improving performance at its tailings dam, which is dragging down production. "Teck is committed to positioning QB operations for long-term, reliable performance," the company said. "This includes validating an executable mine plan and optimizing performance across the mine, plant and port." Teck put the high-altitude mine in the mountains of northern Chile into production in 2023. The $8.7-billion (U.S.) project went 85 per cent over budget. The ramp-up has not gone well either, with grade shortfalls, production misses, cuts to guidance and persistent drainage issues at the tailings dam. Teck said chief operating officer Shehzad Bharmal, who was primarily responsible for operations at QB2, is retiring. The company has hired Daniel Malchuk, a former senior operations executive at BHP Group Ltd.

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