Teck moves to advance Teena zinc potential

Canadian company Teck Resources has launched a data-gathering initiative focused on its portfolio of world-class zinc development assets located in Australia and the Americas.

The so-called Zinc Satellite will build on the technical and commercial expertise of Teck’s Project Satellite team, which has successfully advanced and grown the value of various copper growth projects, such that Teck now has the best portfolio of copper growth options in the industry.

Teck president and chief executive officer Don Lindsay said the market outlook for zinc remained strong, due to declining production from existing primary zinc mines, underinvestment in global exploration for zinc, and long-term demand driven by decarbonisation, which was galvanised steel-intensive.

“Zinc Satellite will leverage our successful Project Satellite approach of making prudent investments to advance each asset by identifying pragmatic development options and paths to value.

“Value could ultimately be realised through a standalone investment, a partnership, or other transaction.”

The Australian project, Teena, is located in the Northern Territory, about seven kilometres from Glencore’s McArthur River operation.

The other projects are in Alaska, USA, and Canada. Together they represent five of the largest 25 undeveloped zinc deposits globally and are all located in stable jurisdictions.

“We have established work programs and teams to advance these potential zinc growth options with prudent investments to improve our understanding of each asset’s potential, and define associated development options and paths to value for each one,” Lindsay said.

Teck is currently the world’s largest net zinc miner.

Australian Mining.

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zinc
steel