Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK)
(“Teck”) and AES Corporation (NYSE: AES) announced today that their
Chilean affiliates, Compañía Minera Teck Quebrada Blanca S.A. and
AES Andes S.A ("AES Andes"), have entered into a long-term clean
power purchase agreement for the Quebrada Blanca Phase 2 copper
project ("QB2") in Chile. Under the 17-year agreement, AES Andes
will provide 1,069 Gigawatt hours per year ("GWh/year") of energy
from renewable sources, building on the February 2020 QB2 renewable
energy announcement to achieve 100% clean, renewable energy for QB2
starting in 2025.
AES Andes uses its growing renewable portfolio
that includes wind, solar, hydro and battery plants to supply clean
energy to QB2.
The use of 100% renewable energy for QB2 instead of energy
from coal-fired generation will avoid a total of approximately 1.6
million tonnes of annual greenhouse gas ("GHG") emissions,
equivalent to removing over 340,000 combustion engine passenger
vehicles from the road – more than the annual emissions of all the
cars in the City of Vancouver or two and a half times the numbers
of cars in the Tarapacá Region of Chile where QB2 is located.
“Securing 100% renewable power for our QB2 copper operation is a
significant step forward in Teck’s ongoing efforts to reduce
greenhouse gas emissions across our business and support global
action on climate change,” said Jonathan Price, CEO of Teck.
“Reaching full renewable power for QB2 will enable us to achieve
our goal of net-zero scope 2 emissions by 2025 as we harness
clean power to minimize the GHG footprint of our operations.”
The CEO of AES Andes, Javier Dib, stated: "We
are very honoured and grateful for the trust that Teck has once
again placed in AES Andes as a provider of innovative and
intelligent power solutions. The long-term renewable agreements we
are signing through the Coal to Green solution allow us to make our
strategic customers' operations more sustainable and competitive
and to accompany them in their transition to emission-free energy.
We are convinced that by working together we are accelerating the
future of energy and advancing in the sustainable energy transition
that Chile is carrying out".
This agreement will enable Teck to achieve its goal of net-zero
scope 2 emissions (emissions associated with purchased power) by
2025, which would make it one of the first companies in the mining
industry to achieve this target. It also contributes to Teck’s 2030
goal of reducing carbon intensity of operations by 33% and
ultimately becoming a net-zero operator by 2050. Teck
previously announced switching to 100% renewable power for its
Carmen de Andacollo Operation in Chile. Click here to learn
more about Teck’s approach to taking action on climate change.
With its Greentegra strategy, AES Andes continues to advance in
its transformation and has already signed more than 6,500 GWh/y of
renewable agreements with mining companies in Chile, which is
equivalent to supplying 3 million Chilean households
The terms of the agreement are confidential.
Forward-Looking Statements This press release
contains certain forward-looking statements within the meaning of
the United States Private Securities Litigation Reform Act of 1995
and forward-looking information as defined in the Securities Act
(Ontario). Forward-looking statements and information can be
identified by the use of words such as "expects", "intends", "is
expected", "potential" or variations of such words and phrases or
statements that certain actions, events or results "may", "could",
"should", "would", "might" or "will" be taken, occur, or be
achieved. Forward-looking statements include statements regarding
anticipated and realized reductions in GHG emissions; future
decarbonisation initiatives; and Teck’s achievement of its climate
change goals, including net-zero scope 2 emissions by 2025,
reducing carbon intensity of operations by 33% by 2030, and
becoming a net-zero operator by 2050.
The forward-looking statements in this press release are based
on assumptions regarding anticipated and realized reductions in GHG
emissions, achievement of energy efficiency in line with
expectations, general economic conditions and the performance of
our business, as well as our ability to achieve our climate goals
and the longer term impacts of those goals on our business, among
other matters. The foregoing list of assumptions is not exhaustive.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of Teck to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Factors
that may cause actual results to vary include, but are not limited
to, ultimate sources of power under the QB2 power arrangements;
cost of decarbonisation and other climate impact initiatives;
failures in performance by contractual counterparties; changes in
commodity prices or general economic conditions; actual
climate-change consequences; adequate technology not being
available on adequate terms; changes in laws and governmental
regulations or enforcement thereof that impact our operations or
strategy; and other risk factors as detailed from time to time in
Teck's reports filed with Canadian securities administrators and
the U.S. Securities and Exchange Commission.
Certain of these risks are described in more detail in the
annual information form of Teck and in its public filings with
Canadian securities administrators and the U.S. Securities and
Exchange Commission. Teck does not assume the obligation to revise
or update these forward-looking statements after the date of this
document or to revise them to reflect the occurrence of future
unanticipated events, except as may be required under applicable
securities laws.
About TeckAs one of Canada’s leading mining
companies, Teck is committed to responsible mining and mineral
development with major business units focused on copper, zinc, and
steelmaking coal. Copper, zinc and high-quality steelmaking coal
are required for the transition to a low-carbon world.
Headquartered in Vancouver, Canada, Teck’s shares are listed on the
Toronto Stock Exchange under the symbols TECK.A and TECK.B and the
New York Stock Exchange under the symbol TECK. Learn more about
Teck at www.teck.com or follow @TeckResources.
About AES AndesAES Andes
generates and sells energy in Chile, Colombia and Argentina with
the mission of improving lives by accelerating a safer and more
sustainable energy future. The Company operates 5,101 MW in the
region along with a large portfolio of renewable energy projects
under development. The company is one of the region's leading
generators, with a diversified portfolio that includes
hydroelectric, wind, solar, energy storage, biomass, gas and coal
plants.
In Chile, AES Andes owns and operates 3,356 MW,
consisting of 2,129 MW of fossil, 771 MW of hydroelectric, 277 MW
of wind, 104 MW of solar photovoltaic and 13 MW of biomass, in
addition to 62 MW of energy storage batteries, seawater
desalination plants, transmission lines and gas pipelines in Chile.
The company also owns hydroelectric and solar plants in Colombia
with a total capacity of 1,102 MW and a natural gas combined cycle
plant in Argentina, with an installed capacity of 643 MW. AES Andes
is 99% owned by The AES Corporation. To learn more about AES Andes,
please visit www.aesandes.com/en/investors.
Teck Media Contact:Chris StannellPublic
Relations Manager604.699.4368chris.stannell@teck.com
Teck Investor Contact:Fraser PhillipsSenior
Vice President, Investor Relations and Strategic
Analysis604.699.4621fraser.phillips@teck.com
Teck Chile Media Contact:Pamela Chait, Manager,
Corporate Affairs 56.2.224645422pamela.chait@teck.com
AES Andes Media Contact:Karin
NiklanderCommunications
Manager56.9.96991442karin.niklander@aes.com
AES Andes Investor Contact:John WillsHead of
Investor Relations56.9.40263099Johnw.wills@aes.com
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