Name of the Project
Quebrada Blanca Phase 2 (QB Phase 2) project.

Location
The project is located in northern Chile.

Client
Teck Resources.

Project Description
The proposed QB Phase 2 project will extend the life of the existing mine as a large-scale concentrate-producing operation. The project will have an initial mine life of 25 years.

The mine will include a 140 000 t/d concentrator and related facilities; a new port facility and desalination plant; and concentrate and desalinated water pipelines.

QB Phase 2 is expected to have a production capacity of more than 250 000 t/y of copper and 8 000 t of molybdenum in concentrate for the first ten years of mine life.

Jobs to be Created
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Value
Project optimisation work currently under way targets capital costs in the range $4.5-billion to $5-billion, with an initial mine life of 25 years, consistent with the capacity of the revised tailings facility that is located closer to the mine.

Duration
A decision to proceed with development is contingent on regulatory approvals and market conditions, among other considerations. Given the timeline of the regulatory process, such a decision is not expected before mid-2018.

Latest Developments
Teck Resources has, as part of the regulatory process, submitted the social- and environmental-impact assessment for the Quebrada Blanca Phase 2 project to the Tarapacá Environmental Authority.

The updated feasibility study, including capital and operating cost estimates for the project, is expected to be completed in the first quarter of 2017.

Key Contracts and Suppliers
Not stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Teck Resources VP investor relations and strategic analysis Greg Waller, tel +1 604 699 4014 or email greg.waller@teck.com.