Dale Webb VP Operations Latin America TECK RESOURCES
Can you provide an update on Teck Resources’ Chile operations?
2024 was a historic year for Teck Resources (Teck). We transformed into a pure-play metals company, completed construction of our expanded Quebrada Blanca operation (QB), and set a new company record for annual copper production.
Overall, Teck’s copper production increased 50% from the year prior, up to 446,000 t, and this was largely driven by our operations in Chile. This includes Carmen de Andacollo, where production increased to over 39,000 t for the year, and we expect production to further increase in 2025. At QB, as ramp-up work nears completion, our focus moving forward is on further optimization and debottlenecking, which will potentially increase throughput by a further 15 to 25%. What is Teck's perspective on investing and conducting business in Chile?
We value our ongoing partnership with the Chilean government, and Chile is an excellent place to invest and do business with partners. Teck owns 90% of Carmen de Andacollo, and ENAMI, the National Mining Company, owns the remaining 10%. At QB, Teck holds 60% interest in the mine, Japan's Sumitomo holds 30%, and Codelco holds a 10% stake. We continue to work cooperatively with Codelco as an important partner. How does Teck incorporate ESG policies into its work in Chile?
Our goals for reducing our greenhouse gas emissions include achieving net-zero Scope 2 emissions by the end of 2025, reducing the carbon intensity of our operations by 33% by the end of 2030 compared to 2020, and achieving net-zero emissions across our operations by 2050. We have made important progress. For example, at QB we have contracted 100% of our electricity requirements from renewable sources, putting us on track to achieve net–zero Scope 2 emissions across our operations by the end of 2025.
Aurora Davidson CEO AMERIGO RESOURCES
Can you provide an update on the highlights and achievements of Amerigo Resources?
2024 was an excellent year for us at Amerigo Resources, as we returned to full operations following the floods in 2023. We had excellent operational performance at our Minera Valle Central (MVC) plant, outperforming our guidance for copper production and cash cost. We produced 64.6 million lb of copper and 1.3 million lb of molybdenum, with an annual cash cost of US$1.89/lb.
We achieved a plant availability of 97%, which is industry-leading globally. Furthermore, we have completed three years without lost-time accidents at MVC, which we are very proud of and speaks volumes about our commitment to our workforce. What are the differences between MVC and other copper concentrator plants?
We work with the same technologies and processes as most other concentrator plants. However, the big difference comes with the grades we deal with. The copper grade in the tailings is much lower, as it has already gone through the concentrator at El Teniente. Working with low-grade material is a challenge, as naturally there is less copper to recover, but this is where our expertise at MVC shines.
Our MVC operation is essentially a copper factory. We do not have to do all the hard-core mining work, such as haulage and crushing, because the concentrator is the start of our process. MVC works with high throughput volumes as a countermeasure to the low grades to make our project profitable. Are you thinking of expanding your model to other mines?
With the structural strengthening of copper prices and the difficulties in maintaining production, the reckoning of working with tailings will become more evident to producers, and Amerigo Resources is the company of choice in this sector.