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Teck Resources Ltd.
Summary
| Project: | Quebrada Blanca | |
|---|---|---|
| Deposit: | Quebrada Blanca | |
| Location: | Chile | |
| Commodities: | Copper-Molybdenum | |
| Date: | 2/27/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 27-2-2019: Teck Resources Ltd. announces a Feasibility Study report for its Quebrada Blanca deposit at the Quebrada Blanca project. Updated mine plan + financials , updated resource and reserve estimates at the project. The Sanction Case contains economic | |
| Resources: | (Reserve, P+P): 1400Mt @ 0.48% Cu, 0.018% Mo, 1.3g/t Ag | |
| CP/QP: | [Resources]: Rodrigo Alves Marinho (Internal) | |
| ABSTRACT: | The Sanction Case contains economic analysis based on inferred resources. Inferred resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Inferred resources are subject to greater uncertainty than measured or indicated resources and it cannot be assumed that they will be successfully upgraded to measured and indicated through further drilling. Nonetheless, based on the nature of the mineralization, Teck has used the Sanction Case mine plan, including inferred resources, as the development mine plan for the Project. The economic analysis of the Sanction Case, which includes inferred resources, may be compared to the economic analysis of the Base Case which does not include the use of inferred resources. At base assumptions, and before giving effect to shareholder loans, the Base Case generates an internal rate of return (IRR) of 13.0% and a net present value (NPV) at an 8% discount rate (NPV8) of $1,808 M as of January 1, 2019, with payback before financing costs estimated to occur in March 2027, 5.5 years after first production. At base assumptions, and before giving effect to shareholder loans, the Sanction Case generates an IRR of 13.6% and an NPV8 of $2,205 M as of January 1, 2019, with payback before financing costs estimated to occur in January 2027, 5.3 years after first production. Giving effect to shareholder loans, which reduce the taxes payable, the Base Case generates an IRR of 13.5% and an NPV8 of $2,030 M while the Sanction Case generates an IRR of 14.1% and an NPV8 of $2,426 M. Initial capital costs are estimated at $4,739 M as of January 1, 2019. Sustaining capital costs are estimated at $782 M for the Base Case and $784 M for the Sanction Case. Closure costs were estimated by a third-party consultant at $216 M. The post-closure costs were calculated as $138 M over a period of 350 years following closure. | |
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