This suspension will be for an initial two-week period, at which point Teck will re-assess the status of the project in light of the rapidly evolving COVID-19 situation
A native copper. Credit: Native_Copper_Macro_Digon3.jpg:/Jonathan Zander (Digon3).
Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) announced today a temporary suspension of construction activities at its Quebrada Blanca Phase 2 (QB2) project to ensure employee safety and support Chilean efforts to limit transmission of COVID-19.
This suspension will be for an initial two-week period, at which point Teck will re-assess the status of the project in light of the rapidly evolving COVID-19 situation. The suspension will affect a total of approximately 15,000 workers on the QB2 project.
“Considering the significant size and scale of the QB2 project, and the fact that workers on the project commute in large numbers from all over Chile, this is the right decision to protect the health and safety of workers and their families, and to support the Chilean government efforts to halt the spread of COVID-19,” said Don Lindsay, President and CEO, Teck. “In the days ahead, we will be putting a plan in place to be ready to restart construction as soon as possible, subject to further developments in the response to COVID-19. I want to thank all workers for their understanding and their continued focus on health and safety during this challenging time.”
The orderly suspension of construction activities is effective immediately, and the workforce will demobilize over the coming days. There have been no confirmed cases of COVID-19 associated with QB2 employees or contractors to date.
The Quebrada Blanca Phase 2 (QB2) Project is one of the world’s largest undeveloped copper resources. Teck holds an indirect 60% interest in Compañía Minera Teck Quebrada Blanca SA (“QBSA”) which owns QB2. Sumitomo Metal Mining Co., Ltd. and Sumitomo Corporation together have a collective 30% indirect interest in QBSA. ENAMI, a Chilean state agency, has a 10% non-funding interest in QBSA.
Source: Company Press Release