Canadian miner Teck Resources (Teck) plans to double its copper output by 2030 and increase it 2.3 times by 2050.
A marked shift to green technologies by miners and manufacturers, improved efficiencies, and increased demand for copper have driven Teck to fast forward its ramp-up plans for the red metal.
Teck outlined a three-phased approach in its growth strategy at the Global Basic Metals conference on Jun 10. The company plans to focus on increasing copper output to expand its green metals portfolio in phase one. It will also aim to shift to renewable power with a 1mn mt reduction of greenhouse gases per year.
The company has already set its capacity expansion plans for copper, zinc, and coking coal by lifting its 2021 copper guidance in February this year. Teck’s copper output stands at 71,700mt as of Q1 2021.