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2016 Annual Report Highlights

About Teck

Teck is a diversified resource company committed to responsible mining and mineral development with business units focused on steelmaking coal, copper, zinc and energy. Headquartered in Vancouver, British Columbia, Canada, we own or have an interest in 12 mines, one large metallurgical complex, and several major development projects in Canada, the United States, Chile and Peru. We have expertise across a wide range of activities related to exploration, development, mining and minerals processing, including smelting and refining, safety, environmental protection, materials stewardship, recycling and research.

Our corporate strategy is focused on exploring for, developing, acquiring and operating world-class, long-life assets in stable jurisdictions that operate through multiple price cycles. We maximize productivity and efficiency at our existing operations, maintain a strong balance sheet, and are nimble in recognizing and acting on opportunities. The pursuit of sustainability guides our approach to business, and we recognize that our success depends on our ability to establish safe workplaces for our people and collaborative relationships with communities.

2016 Highlights

Safety

  • Achieved year-over-year reductions in Total Reportable Injury Frequency of approximately 13%, Lost-Time Injury Frequency of 11% and High-Potential Incidents of 12%; we had no fatalities

Financial

  • Revenues of $9.3 billion, and gross profit before depreciation and amortization of $3.8 billion
  • Cash flow from operations of $3.1 billion
  • Profit attributable to shareholders of $1.0 billion; adjusted profit of $1.1 billion, or $1.91 per share
  • Retired approximately US$1.1 billion of debt in just over 12 months
  • Maintained over $5.4 billion of liquidity at the end of 2016; cash balance of $1.4 billion and a US$3.0 billion unused line of credit

Operating and Development

  • Realized a number of quarterly and annual sales and production records while reducing total costs in each of our business units
  • Attained steelmaking coal production and sales record highs of 27.6 and 27.0 million tonnes, respectively
  • Achieved significant cost reductions at our copper operations, substantially reducing the impact of lower production on our cash unit costs
  • Attained annual production records for refined zinc and lead at Trail Operations
  • Surpassed 76% completion of construction on the Fort Hills oil sands project​

Sustainability

  • Named to Dow Jones Sustainability World Index (DJSI) for the seventh consecutive year and ranked as one of the Best 50 Corporate Citizens in Canada by media and investment research firm Corporate Knights

Investor Relations

Toll-free in Canada and the U.S.: 1.877.759.6226
Outside Canada and the U.S.: 604.699.4257
f: 604.699.4718
investors@teck.com

View All Contacts

Investor Relations

Toll-free in Canada and the U.S.: 1.877.759.6226
Outside Canada and the U.S.: 604.699.4257
f: 604.699.4718
investors@teck.com

View All Contacts
Teck Logo

Teck is a diversified resource company committed to responsible mining and mineral development with business units focused on copper, zinc, steelmaking coal and energy.