Teck Resources, a leading Canadian mining company, has unveiled a new business structure designed to expedite its transformation into a dedicated energy transition metals company. This significant shift follows the recent sale of its steelmaking coal unit to Glencore and marks a strategic realignment focused on expanding production of critical metals like copper.
“This new structure will ensure Teck is optimally positioned to operate safely, efficiently and responsibly while capitalizing on profitable growth opportunities and enhancing value for our shareholders and all stakeholders,” stated Jonathan Price, Teck’s President and CEO.
Under the revamped structure, Teck will operate through two primary regional business units: North America and Latin America. This strategy leverages the company’s substantial copper assets and aims to optimize operational efficiency.
North America:
This unit encompasses the Highland Valley copper operation in British Columbia, the Red Dog zinc operation in Alaska, and the Trail Operations in British Columbia. It also oversees major copper growth projects including Galore Creek and Schaft Creek in British Columbia, and the New Range project in Minnesota.Latin America:
This unit comprises the Carmen de Andacollo and Quebrada Blanca copper operations in Chile, alongside Teck’s interests in the Antamina mine in Peru. It also includes the Zafranal project in Peru, the San Nicolas project in Mexico, and the NuevaUnión project in Chile.To solidify its executive ranks and drive this strategic shift, Teck has promoted several senior vice presidents to executive vice president roles.
Ian Anderson has been appointed as Executive Vice President (EVP) and Chief Commercial Officer, tasked with optimizing sales and procurement strategies to enhance margins. Shehzad Bharmal assumes the role of EVP and Chief Operating Officer (COO), responsible for driving safety, operational excellence, and asset optimization across both the North American and Latin American business units. Jeff Hanman takes on the position of EVP and Chief Strategy Officer, focusing on developing and implementing corporate strategy and transformation initiatives to solidify Teck’s position as a leading energy transition metals producer.
Nic Hooper has been named EVP and Chief Corporate Development Officer, responsible for managing corporate development, portfolio optimization, and exploration activities, ensuring Teck leverages new growth opportunities. Karla Mills becomes EVP and Chief Project Development Officer, overseeing the delivery of Teck’s portfolio of copper growth projects, guaranteeing adherence to project timelines and budgets.
Crystal Prystai continues as EVP and Chief Financial Officer, overseeing overall financial management, including capital allocation for growth, maintaining a resilient balance sheet, and returning cash to shareholders. Charlene Ripley has been appointed EVP and Chief Legal and Sustainability Officer, responsible for maintaining Teck’s sustainability performance and overseeing legal, risk, and compliance functions. Finally, Dean Winsor transitions to EVP and Chief People Officer, tasked with human resources management, talent development, and fostering a diverse, respectful, and inclusive workplace.
“This executive leadership team brings to their portfolio an incredible breadth of experience and I look forward to working with them to unlock the full value of our premium energy transition metals portfolio and leading copper growth pipeline,” said Price.
These changes are effective from September 1, 2024.
