Teck provides 2023 update on Quebrada Blanca operations
Published by Jane Bentham,
Editorial Assistant
World Coal,
Teck Resources Limited has provided unaudited 2023 production volumes for Quebrada Blanca (QB) operations, an update on the QB2 project, and unaudited fourth quarter steelmaking coal sales volumes and realised prices.
“We are pleased that QB is now operating near design throughput capacity with strong recoveries, positioning Teck for significantly increased copper production in 2024,” said Jonathan Price, President and CEO. “We had strong fourth quarter performance in our steelmaking coal operations, with improvements in plant performance leading to an increase in production, and sales volumes of 6.1 million t near the top end of our guidance.”
QB Operations
2023 unaudited contained copper production volumes from QB, excluding copper cathode, totalled 56 200 t, below the bottom end of Teck’s guidance range of 80 000 t for 2023 due to reliability and consistency issues in the fourth quarter. Fourth quarter production was 35 000 t.
During the second half of 2023, each of the operations at QB, including mine operations, crushing, grinding, flotation, tailings, desalination, and concentrate handling, all operated at or above design capacity. Teck’s focus in the fourth quarter was on achieving reliable and consistent operations. This took longer than expected to achieve and, as a result, production did not meet forecast. However, by the end of December, QB was operating near design throughput capacity, and this has continued into 2024. Recoveries have generally been in line with expectations and head grades remain within expected levels.
QB2 Project
The construction of the molybdenum plant was substantially completed in December, and commissioning has commenced. Ramp-up of the molybdenum plant is expected to be completed by the end of the 2Q24. Construction of the port offshore facilities is progressing to plan and is expected to be completed by the end of the 1Q24. The last jetty pile was completed in December, representing a major milestone in the port construction. Teck’s previously disclosed QB2 project capital cost guidance is unchanged at US$8.6 – 8.8 billion.
Steelmaking Coal Sales and Pricing
Teck’s fourth quarter steelmaking coal sales were 6.1 million t, near the top end of their previously disclosed guidance of 5.8 – 6.2 million t. The realised steelmaking coal price in the fourth quarter averaged US$270/t. Teck expects to report positive steelmaking coal provisional pricing adjustments of US$89 million in the fourth quarter.
Read the article online at: https://www.worldcoal.com/coal/09012024/teck-provides-2023-update-on-quebrada-blanca-operations/
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