Quebrada Blanca mine in Chile is Teck’s largest copper project. (Image courtesy of Teck Resources.)
Copper surged to a 16-month high in London Wednesday when Teck Resources (TSX: TECK.A, TECK.B)(NYSE: TECK) lowered its copper production guidance for 2025 after persistent setbacks at its Quebrada Blanca (QB) mine in Chile and Highland Valley Copper (HVC) operation in Canada.
Prices climbed as much as 0.5% to $10,815 per tonne on the London Metal Exchange. The company said it now expects to produce 170,000 to 190,000 tons in 2025, down from its previous target of 210,000 to 230,000 tons. Teck also trimmed annual production targets for the next three years.
The QB project has long frustrated investors, coming in $4 billion over budget and years behind schedule. Current challenges include tailings storage at the high-altitude site in the Andes, as well as damage to key equipment and instability within the…
