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Life Cycle Approach to Providing Value

As part of our commitment to responsibility throughout the value chain, Teck works to understand a broad scope of issues—ranging from the origins of the goods that we buy to the ultimate post-sale impacts of our products—through integrated risk management. 

Table 1: Value Chain Stakeholders

Suppliers

 

Service Providers

 

Joint Venture Partners

Customers

End Users and their Geographic Locations

We rely on an international network of suppliers to provide the products, materials and goods needed to support our operations. These include heavy mining equipment, tires and spare parts, fuel and lubricants, electricity, materials (including grinding media, liners, and ground-engaging tools), explosives, and chemicals for processing.

We outsource selected operational activities to third parties. This is typically due to their cost-effectiveness or technical capabilities, or for strategic reasons (e.g., where we see benefit in concentrating on our core business capabilities). Typical activities carried out by service providers and contractors include heavy mining equipment maintenance; transport and logistics; mechanical, electrical and construction work; general exploration drilling; and technical/engineering consultancy. 

Ownership of some of our assets is shared with joint venture partners. This includes, for example, our Antamina mine in Peru and the Fort Hills oil sands project in Alberta (BHP Billiton, Glencore and Mitsubishi Corporation; and Suncor Energy Inc. and Total E&P Canada Ltd., respectively) and NuevaUnión in Chile with Goldcorp.

 

Many of our products need to be further processed before they are ready for market. As a result, we either carry out refining and processing ourselves to create concentrates, or we sell our products to third-party processors. Our key customers include third-party smelters and refineries of copper, zinc and other metals (including lead and silver); third-party steel mills producing steelmaking coal; and direct purchasers/traders of various metals and chemical by-products. 

 

Construction industry: steel, zinc, copper

Transportation, automobile and logistics industry: steel, zinc, copper

Electronics and telecommunications industry: copper

Power generation and transmission industry (including renewable energy): copper

Domestic appliance industry: steel, copper

Consumers (including consumer goods and nutritional supplements): steel, zinc and copper

Agricultural industry: zinc

Multiple users: energy 

 


Table 2: Inputs and Outputs of the Mining Life Cycle

Inputs

Outputs


Natural capital:
including water, energy, land, air and minerals

Human capital:
including the skills and expertise of our people

Political and legal capital:
including government licences and regulatory permits

Financial capital:
including equity and debt financing

Social capital:
including community support and relationships

Business capital:
including our relationships with joint venture partners, contractors and suppliers

Physical:
Steelmaking coal, copper, zinc and lead. We also produce precious metals, molybdenum, electrical power, fertilizers and other metals.

Economic:
Value of salaries and benefits, payments to our host governments in the form of taxes and royalties, spending on suppliers (includes fuel and energy, operating supplies, maintenance and repair supplies), spending on contractors and consultants, community investments, interest on debt, dividends to shareholders

Social:
Relationships and agreements with communities and Indigenous Peoples, health and safety of our employees, relationships with value chain stakeholders 

Environmental:
Land disturbed and reclaimed, tailings produced, carbon dioxide-equivalent emissions, ambient particulate matter, sulphur dioxide emissions, water outputs

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