https://www.theglobeandmail.com/
Teck Resources Ltd. stumbled once again in its latest quarter, as it encountered more ramp-up problems at its giant QB2 copper mine, while its zinc business fired on all cylinders.
Teck put the high-altitude QB2 mine in the mountains of northern Chile into production in 2023, but the US$8.7-billion project went way over budget. The ramp-up has been difficult, with grade shortfalls and production misses among the early challenges.
Over the past few quarters, investors have been watching for signs that things have stabilized at QB2. But the Vancouver-based miner said Thursday in its earnings release that its 2025 production forecast for the mine will be at the lower end of its estimate, and that its costs will be on the higher end. That’s in large part because QB2 will be subject to more maintenance downtime than originally predicted, as work on finishing its tailings dam construction continues.
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