https://www.theglobeandmail.com/
Teck Resources Ltd. has cut its full-year copper forecast yet again owing to setbacks at multiple mines, including at its giant QB2 copper operation in Chile. Vancouver-based Teck said on Thursday that its 2024 copper production will be between 420,000 tonnes and 455,000 tonnes, about 6.5 per cent lower than predicted.
The downgrade was driven in part by issues with its haul trucks at its Highland Valley mine in British Columbia, including labour availability and problems with its autonomous system. Teck also cut its guidance for the QB2 mine in Chile, reducing its forecast by 6 per cent to roughly 205,000 tonnes.
This was the second quarter in a row that Teck cut its copper forecast owing to setbacks at QB2. In July, the Canadian miner shaved its guidance by 7 per cent in part because of geotechnical challenges around ore grades at QB2. For years Teck has marketed QB2 to investors as the anchor mine that will underpin its revamp to a fully focused critical-minerals company after it recently unloaded its legacy coal business.
For the rest of this article: https://www.theglobeandmail.com/business/article-teck-cuts-forecast-again-as-it-encounters-more-problems-at-anchor-qb2/