Teck Resources Ltd expects that copper production will increase significantly this year, as its world-class QB2 copper mine project in northern Chile is under construction. Tec Resources expects copper output to be between 390000 and 445000 tons this year, higher than 270500 tons in 2022. The company said that with the QB2 project gradually reaching full capacity by the end of 2023, the overall copper output will be significantly higher than that in 2022.

However, the increase in production will be partially offset by the expected decline in the production of Highland Valley copper mine. The Highland Valley copper mine is located in British Columbia, Canada. The production in 2022 will be affected by the temporary mine closure caused by local geotechnical engineering events and extreme weather. In addition, the production in 2023 is also expected to be affected by the decline in the ore grade of Antamina copper mine in Peru. The company said in a press release that the copper output from 2024 to 2026 is expected to be between 545000 and 640000 tons.

Tec Resources said that the annual output of zinc concentrate in 2022 was within the expected range, and the output of copper, refined zinc and steelmaking coal was slightly lower than the low end of the company's forecast range. The output of refined zinc in 2022 is 248900 tons, reflecting the extension of the main planned maintenance activities of KIVCET boiler in British Columbia Trail Operations and the unplanned downtime caused by extreme cold weather in December. The output of steelmaking coal was 21.5 million tons, reflecting the suspension of Elkview business in British Columbia for two months due to extreme weather.

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