Challenges at the mine, including geotechnical issues and equipment-related problems, have contributed to the company’s lower production numbers.
The second phase of the Quebrada Blanca expansion, valued at US$8.7bn, remains critical to Teck’s strategy of shifting towards metals that play a key role in global energy transition technologies, such as copper, which is used in solar panels, wind turbines, electric vehicles, and batteries.
Price acknowledged that there is still work to be done to improve ore recovery at the site, but he expressed confidence that the mine’s performance will significantly improve in the second half of 2025.
“The mine’s throughput has been ramping up steadily quarter over quarter, towards nameplate capacity,” he said. Price added that the company expects to achieve its design throughput rates by the end of this year and has seen indications that it could exceed those levels.
In the third quarter of 2024, the Quebrada Blanca mine produced 52,500 tonnes of copper, up slightly from the 51,300 tonnes produced in the second quarter as production continues to increase.
