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Teck Announces Sale of Quintette Assets

Press Release

December 19, 2022

Vancouver, B.C. – Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) announced today that it has agreed to sell to a subsidiary of Conuma Resources Limited (“Conuma”) all the assets and liabilities of the Quintette steelmaking coal mine in north-eastern British Columbia. Conuma will pay Teck $120 million in cash in staged payments over the next 36 months, and an ongoing 25% net profits interest royalty, first payable after Conuma recovers its investment in Quintette.

Closing of the transaction, expected to occur in the first quarter of 2023, is subject to receipt of regulatory approvals and other customary conditions.

Quintette has been on care and maintenance since 2000.

About Teck
As one of Canada’s leading mining companies, Teck is committed to responsible mining and mineral development with major business units focused on copper, zinc, and steelmaking coal. Copper, zinc and high-quality steelmaking coal are required for the transition to a low-carbon world. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at  www.teck.com or follow @TeckResources.

Investor Contact:
Fraser Phillips
Senior Vice President, Investor Relations and Strategic Analysis
604.699.4621
[email protected]

Media Contact:
Chris Stannell
Public Relations Manager
604.699.4368
[email protected]

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