Diversified miner Teck Resources is taking a closer look at its zinc development assets in the Americas and Australia, including five substantial resources.
The company will leverage the technical and commercial expertise of its ‘Project Satellite’ team, which has successfully advanced and grown the value of various copper growth projects, including San Nicolás in Mexico and Zafranal in Peru.
“The market outlook for zinc is strong, due to declining production from existing primary zinc mines, underinvestment in global exploration for zinc, and long-term demand driven by decarbonisation, which is galvanized steel-intensive,” said CEO Don Lindsay on Friday.
“Zinc Satellite will leverage our successful Project Satellite approach of making prudent investments to advance each asset by identifying pragmatic development options and paths to value. Value could ultimately be realised through a standalone investment, a partnership, or other transaction."
The five zinc projects include three in Alaska within a 20 km range from the Red Dog mine. The other two projects are in Northern Territory, Australia and in British Columbia, Canada.
These projects represent five of the biggest 25 undeveloped zinc deposits globally and are all located in stable jurisdictions.
“We have established work programmes and teams to advance these potential zinc growth options with prudent investments to improve our understanding of each asset’s potential, and define associated development options and paths to value for each one.”
Teck is currently the world’s largest net zinc miner based on zinc production from Red Dog and Antamina, in Peru. It also operates one of the world’s largest integrated zinc-lead refineries, located in Trail, British Columbia.