Teck says its near-term growth will be supported by a strong balance sheet, allowing both shareholder dividends and funding for growth project. So far in 2024, the company has reduced its debt by C$2.3 billion and is has a current net cash position of $C1.8 billion.
Since 2019, C$5.3 billion has been returned to shareholders, including more than C$900 million in share buybacks. A further C$2.3 billion has been authorized to continue buybacks.
The company plans to invest C$4.44 billion to C$5.41 billion ($3.2 billion to $3.9 billion) over four years to develop four key projects to reach its announced copper output.
Optimization and debottlenecking will take place at Quebrada Blanca (Teck 60% owner) in Chile. This is noted as a very low capital cost options to boost production by a further 15% to 25% at a capital cost of C$138.6 million to C$277.3 million.
At Highland Valley copper (Teck 100% owner) in British…
