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Quebrada Blanca Phase 2

Quebrada Blanca Phase 2 is a low-cost, long-life copper project being built by Teck and the project partners in northern Chile.

Overview

The QB2 project is one of the world’s largest undeveloped copper resources. QB2 is expected to have low operating costs, an initial mine life of 28 years and significant potential for further growth.

On March 29, 2019, we closed a transaction where SMM/SC subscribed for a 30% indirect interest in QBSA, which owns the QB2 copper development. SMM/SC contributed $1.3 billion (US$966 million) to QBSA on closing of the transaction and a further $444 million (US$336 million) over the remainder of 2019, including $38 million for interest on the loan advances during 2019.

In the fourth quarter of 2019, we closed the US$2.5 billion limited recourse project financing to fund the development of QB2. With funding from the project financing and the partnering transaction with SMM/SC, our first contributions to the project are not expected until early 2021


QB2 Highlights

316,000 tonnes 

copper-equivalent annual production for the first 5 years

Top 20 global Cu producer 

Long life, low-cost operation; top 20 global copper producer

28 years 

initial mine life using only 25% of total reserves and resources

Top 5 potential global CU producer  

significant future expansion potential

Quebrada Blanca Phase 2 Video

Project Areas

The project is comprised of a mine area with a concentrator plant and tailings facility, utilities and port facilities.


Mine Area

The supergene orebody (near-surface deposit) was mined during the initial phase of Quebrada Blanca. QB2 will develop the deeper sulphide resource underlying the existing operation. As a result, QB2 is effectively pre-stripped, which greatly reduces project costs.

  • Initial 28-year mine life will use only 25% of total reserves and resources
  • Maximum pit depth of 720 meters

 

Concentrator

Processing of copper ore, including crushing, milling, bulk flotation, thickening and filtering will occur in a new concentrator plant with a production capacity of 140,000 tonnes-per-day.

Tailings Facility

Mine tailings will be transported from the concentrator plant to the tailings facility. The facility will be built to industry-leading standards for safety and security to ensure safe management and storage.

 

Utilities

Utilities constructed to service QB2 will include the concentrate and desalinated water transport systems, high-voltage power lines and access roads.


Port Facilities and Desalination Plant

QB2 will include the first large-scale use of desalinated seawater at a mining operation in the Tarapacá Region of Chile, in place of freshwater use. In addition, port facilities for loading mineral concentrate onto ships for transport to markets will be constructed.


Community Engagement

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At Teck, we begin engaging with local communities on our projects well before construction begins. As such, we have been engaging and consulting with local communities in the QB2 project area since 2012. We are committed to continuing this ongoing engagement throughout the life of the project, and will also collaborate with communities to identify opportunities to support their objectives and create tangible benefits in the area where we operate.

We welcome your questions, feedback and suggestions through

 

this form.

Environmental Impact Assessments


Teck

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