As the end of 2021 draws closer, let’s take a moment to reflect on everything we accomplished over the past year thanks to the incredible teams across Teck, and look ahead to what next year will bring.
Construction of QB2, our flagship copper project in Chile, is now past the two-thirds mark and remains on track for first production in the second half of 2022. Once operational, QB2 will double our consolidated copper production and transform Teck into a major global copper producer. We also saw positive performance across our operations through the year—despite major challenges created by wildfires, extreme heat, flooding in British Columbia, and the ongoing pandemic. Solid performance combined with an extremely favourable price environment for the commodities we produce, particularly steelmaking coal, resulted in strong financial performance throughout the year. And we continued to be recognized for our leadership in sustainability, earning top rankings on the Dow Jones Sustainability World Index, the Forbes’ World’s and Canada’s Best Employers lists, the Bloomberg Gender-Equality Index and the Corporate Knights’ Global 100 Most Sustainable Corporations list. Together, these describe a company working hard to deliver on its commitment to operating sustainably, ensuring the health and safety of our people, and building strong relationships with communities.
2021 is also the year we articulated our Purpose statement and refreshed our Values. Together, these are a clear expression of who we are, the good we seek to do and what we value most. I recently shared these during a Let’s Talk Livestream event, discussing how they were developed, why we launched them now, and what they mean for our business. During the event, we heard from a number of employees from across Teck to hear their perspectives on our Purpose statement and refreshed Values, the connection they feel to them, and how they see them in their work. If you did not attend the live event or would like to view it again, I encourage you to watch the video.
2021 was certainly another year that tested us, as a company and as individuals. But throughout it all—through the different waves and variants of the pandemic, as we experienced the very real effects of climate change first-hand, and as we worked hard to support the communities and protect the environments where we operate—you remained resilient. You never wavered in your commitment to health and safety. And you demonstrated courage, drive and teamwork at every turn.
On behalf of the Senior Management Team and our Board of Directors, I would like to sincerely thank you all for an exceptional year and wish you and your loved ones a safe and happy holiday season, and a very happy New Year.
President and CEO