Teck Resources

IEEFA Research

Press release: IEEFA statement on Teck Resources decision to withdraw Frontier Mine proposal

February 24, 2020 – Tom Sanzillo, Director of Finance for the Institute for Energy Economics and Financial Analysis (IEEFA), made the following statement today on Teck Resources’ decision to withdraw its proposal to build the Frontier oil sands mine in Alberta: “Teck’s leadership has acknowledged that conditions have changed, and the $20 billion Frontier project […]

and February 24, 2020 Read More →
IEEFA report: Teck Resources’ Frontier Oil Sands project shows reckless disregard for financials

IEEFA report: Teck Resources’ Frontier Oil Sands project shows reckless disregard for financials

Joint Review Panel’s approval was based on inflated oil price projections

January 15, 2020 (IEEFA North America) – The Joint Review Panel (JRP) approved Teck Resources’ proposed Frontier oil sands mine, now under federal government review, based on inflated oil price estimates of $95/barrel or better “for years to come,” which is  “misguided and reckless,” according to a report released today by the U.S.-based Institute for […]

IEEFA Canada: Ill-advised oil sands project faces rough future

Math doesn’t add up on Teck’s Frontier initiative

Teck’s $20.6 billion Frontier Oil Sands Mine Project, now before the Canadian Environmental Assessment Agency Joint Review Panel, faces an extraordinary and alarming combination of risks.  The project will face financial distress for its entire 41-year life cycle. According to our report, Significant Financial Risks Confront Teck’s Frontier Oil Sands Mine Project, neither oil price […]

and October 10, 2018 Read More →
Teck Resources: Rough Road on Oil Sands Investments

Teck Resources: Rough Road on Oil Sands Investments

Teck Resources_Rough Road on Oil Sands Investments_April 2015 By Tom Sanzillo and Deborah Lawrence

More News and Commentary

IEEFA Canada: Teck’s possible met coal exit an ominous sign for U.S. coal companies

IEEFA Canada: Teck’s possible met coal exit an ominous sign for U.S. coal companies

Overseas demand, high prices and climate issues give Teck cover for met coal exit

Teck Resources, the Canada-based copper, zinc and coal mining company that is one of the biggest exporters of steelmaking coal in the world, is considering selling or spinning off its metallurgical coal operations, according to a Sept. 14 Bloomberg report. Any divestment of its big coal mines in British Columbia could be a signal that […]

September 21, 2021 Read More →
IEEFA update: Teck’s withdrawal from Frontier oil sands project has extraordinary implications
and

IEEFA update: Teck’s withdrawal from Frontier oil sands project has extraordinary implications

Explaining his decision, CEO raises fundamental climate issues

CEO Don Lindsay of Teck Resources in Canada announced this week that his company was withdrawing from the environmental permit process for its $20-billion Frontier oil sands mine project. The business decision is a sound one for the company. The project is too big for Teck, no partners emerged, oil prices are too low and […]

and February 27, 2020 Read More →
and

Press release: IEEFA statement on Teck Resources decision to withdraw Frontier Mine proposal

February 24, 2020 – Tom Sanzillo, Director of Finance for the Institute for Energy Economics and Financial Analysis (IEEFA), made the following statement today on Teck Resources’ decision to withdraw its proposal to build the Frontier oil sands mine in Alberta: “Teck’s leadership has acknowledged that conditions have changed, and the $20 billion Frontier project […]

and February 24, 2020 Read More →

Teck backs out of Frontier oil sands project in Canada

Bloomberg: Teck Resources Ltd. is pulling its application for a controversial new oil-sands mine in Alberta, freeing Canadian Prime Minister Justin Trudeau from a political predicament. The company will write down the Frontier project’s $1.13 billion carrying value, it said in a statement late Sunday. Teck’s decision not to proceed with the mine frees Trudeau […]

February 24, 2020 Read More →

Low crude prices prompt Teck Resources to write off C$910 million at Fort Hills oil sands operation

S&P Global Market Intelligence ($): Canadian diversified miner Teck Resources Ltd. swung to a net loss of C$891 million in the fourth quarter of 2019 from a year-ago net profit of C$433 million due to C$999 million in write-downs primarily related to the Fort Hills oil sands operation in Alberta. Teck said Feb. 20 that […]

February 21, 2020 Read More →
IEEFA update: Teck Resources, wisely, casts doubt on Frontier Oil Sands mine project
and

IEEFA update: Teck Resources, wisely, casts doubt on Frontier Oil Sands mine project

Proposed mine based financial viability on inflated oil price estimates

Don Lindsay, CEO of Teck Resources, said last week that proceeding with the Frontier Oil Sands project may not happen, even if Canada approves its pending permit. A key reason he cites is the persistently low price of oil. Beyond any environmental considerations that might impact the final decision, the Federal Cabinet, which has until […]

and February 7, 2020 Read More →

Canada’s Teck Resources facing tough start to 2020

Bloomberg: With two weeks until it releases quarterly earnings, Teck Resources Ltd. can’t seem to catch a break. The miner’s steelmaking-coal sales are threatened by heavy rain, snow and mudslides. Costs to build a new shipping terminal in British Columbia to get its goods to market are running over budget. And its base-metals business is […]

February 7, 2020 Read More →
IEEFA report: Teck Resources’ Frontier Oil Sands project shows reckless disregard for financials
, and

IEEFA report: Teck Resources’ Frontier Oil Sands project shows reckless disregard for financials

Joint Review Panel’s approval was based on inflated oil price projections

January 15, 2020 (IEEFA North America) – The Joint Review Panel (JRP) approved Teck Resources’ proposed Frontier oil sands mine, now under federal government review, based on inflated oil price estimates of $95/barrel or better “for years to come,” which is  “misguided and reckless,” according to a report released today by the U.S.-based Institute for […]

and

IEEFA Canada: Ill-advised oil sands project faces rough future

Math doesn’t add up on Teck’s Frontier initiative

Teck’s $20.6 billion Frontier Oil Sands Mine Project, now before the Canadian Environmental Assessment Agency Joint Review Panel, faces an extraordinary and alarming combination of risks.  The project will face financial distress for its entire 41-year life cycle. According to our report, Significant Financial Risks Confront Teck’s Frontier Oil Sands Mine Project, neither oil price […]

and October 10, 2018 Read More →
Mining Giant Teck Resources Offers Coal Investors Another Red Flag

Mining Giant Teck Resources Offers Coal Investors Another Red Flag

A Write-Down Reflects Structural Weaknesses in Global Markets

Repetitive as it is, Teck Resources is offering another recent lesson in how investing in coal is a serious wealth hazard. Teck Resources shareholders have lost Canadian $18 billion of equity value in five years. In addition to being a major global producer of copper and zinc, Teck Resources is Canada’s largest coking coal producer, […]

October 29, 2015 Read More →