Quebrada Blanca

Quebrada Blanca Operations is a copper mine located in northern Chile.

About Quebrada Blanca

The Quebrada Blanca mine is located in Tarapacá Region of northern Chile at an elevation of 4,400 metres, approximately 240 kilometres southeast of the city of Iquique and 1,500 kilometres from Santiago.

Teck holds an indirect 60% interest in the mine. Sumitomo Metal Mining Co., Ltd. and Sumitomo Corporation together have a collective 30% indirect interest in the mine. ENAMI, a Chilean state agency, has a 10% non-funding interest.

Quebrada Blanca is an open pit operation, which leaches the ore to produce copper cathodes via processing in an SX-EW plant. Copper cathode is trucked to Iquique for shipment to purchasers. Mine personnel live in a camp facility, and the majority commute from large population centres, including Iquique, Arica and Santiago.

Mining operations ceased in the fourth quarter of 2018, and mining equipment and personnel have been redeployed to the Quebrada Blanca Phase 2 (QB2) project. The operation is now focused on secondary copper extraction from previous leach piles.

Quebrada Blanca produced 11,500 tonnes of copper cathode in 2021, compared to 13,400 tonnes in 2020.

Quebrada Blanca Operating Results

($ in millions)

2021 2020

2019

Revenue

$136 $116

$170

Gross profit (loss)

$39 $19

$(59)

Gross profit (loss) before depreciation and amortization1

$42 $30

$(18)

Production (thousand tonnes)2

11 13

21

Sales (thousand tonnes)2

12 14

21

Notes:
1 This is a non-GAAP financial measure or ratio. See "Use of Non-GAAP Financial Measures and Ratios" section of the Management's Discussion and Analysis for further information. 
2 We include 100% of production and sales from our Quebrada Blanca mine in our production and sales volumes, even though we do not own 100% of this operation, because we fully consolidate this result in our financial statements.

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