Teck Resources Ltd (TSX:TECK.B) announced it will defer major growth projects until its Quebrada Blanca (QB) copper mine in Chile reaches steady-state operations and ramp-up targets.
The decision follows a comprehensive review of operations aimed at improving performance and reinforcing confidence in future business plans, the company said in a statement.
Launched in August 2025, the review includes detailed assessments of operating plans, input from third-party experts, and rigorous execution tracking.
Teck expects the review to conclude by October 2025, with any updates to guidance communicated alongside its third-quarter results.
At the center of the review is a QB Action Plan addressing slow sand drainage, which has affected tailings management facility (TMF) development and constrained production.
Key initiatives include mechanically raising the tailings dam wall to enable ramp-up, accelerating sand drainage through modifications to cyclone facilities and refined sand placement techniques, and testing coarser mill grind sizes.
Teck has also brought on an industry veteran as a special advisor to the CEO to support TMF development and improve operational execution at QB.
Broader measures focus on validating an executable mine plan, optimizing performance across the mine, plant, and port, and strengthening planning, forecasting, and reconciliation processes.
Teck’s US-listed shares moved higher on the update, up 2.8% at about $34. Its Toronto-listed stock also added 2.8% at C$47.