Teck launches operations review, defers major projects pending QB performance milestones

[Material photo of copper ore]
SAND555

Teck Resources (TECK.B:CA) (NYSE:TECK [https://seekingalpha.com/symbol/TECK]) on Tuesday announced [https://seekingalpha.com/pr/20218525-teck-announces-comprehensive-operations-review-and-qb-action-plan] a comprehensive operations review, launched in August, focused on improving performance with a detailed QB action plan, identifying opportunities to enhance operating practices.

The company has onboarded an industry veteran as Special Advisor to the CEO to help accelerate QB tailings management facility development and drive operational performance.

Deferred sanctioning of major growth projects until QB achieves steady-state operations and ramp-up targets.

To strengthen executive oversight of operational activities and drive improved operating performance across the business, the Senior Vice Presidents of Operations for Latin America and North America will now report directly to the President and CEO.

The following QB action plan is in progress and focuses on identifying and implementing solutions to address slow sand drainage, which has impacted the pace of TMF development and constrained production, the company said.

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