Teck Resources

Title: Teck Resources
Category: Mining
Clicks: 8
Added on: Nov 26, 2011
Teck Resources is a Canadian-based mining company, established with the amalgamation of Cominco and Tech in 2001. Cominco was formed in 1906 and named the Consolidated Mining and Smelting Company of Canada. The core mine of the Company, Sullivan Mine was found in Kimberley and exploitation started in 1909. Production continued for over 90 years, and its reserves were depleted in 2001.

Teck was originally formed in 1913 by James Hughes and Sandy McIntyre as to develop a gold discovery as Kirkland Lake. The Teck-Hughes mine was exploited until 1965, producing for some 50 years. In 1969, Tech purchased the Beaverdell Mine, where exploitation started in 1898, and silver was produced until 1991. The association between the two companies, Cominco and Teck, started in 1986, when together with two of its industry partners, Teck acquired a shareholding from the Canadian Pacific Limited.

Today, Teck Resources is the largest company in Canada, engaged in the production of zinc, steelmaking coal, copper, and energy. Its main competitors in these sectors are CONSOL Energy Inc., Boliden AB, and BHP Billiton Limited

The company exports steelmaking coal and operates six mines with a reserve life of 25 years. Active operations of the company include Coal Mountain, Cardinal River, Line Creek, and others. Teck Resources operates five mines and is a significant copper producer, exploring the potential for new discoveries. Among its active operations are Antamina, Highland Valley Copper, Carmen de Andacollo, and Quebrada Blanca. The company is also the third largest zinc producer globally, supporting market growth to enhance the value of its assets. Active operations of Tech Resources are Pend Oreille, Red Dog, and Trail. The Red Dog mining site is located in Alaska and is among the largest zinc mines in the world. The Antamina mine is found in the northern part of Peru and is a large producer of zinc concentrate. The metallurgical facility of Teck Resources is located in British Columbia and benefits from the low-cost power produced by the hydroelectric dam facility in Waneta. Lead and zinc refining and smelting operations take place here. In the energy sector, the company has two development projects Frontier and Equinox and Fort Hills.
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