Teck to update QB2 schedule, cost estimates
Diversified mining company Teck Resources is continuing to target first production at the Quebrada Blanca Phase 2 (QB2) copper project, in Chile, by late next year, but the miner warned on Friday that there had been delays in the schedule, primarily owing to permitting and social unrest.
The schedule delays will also affect costs, the Canadian major said of the $4.8-billion copper development project in which it owns 60%, with Sumitomo holding 30% and Chilean State miner Enami the balance.
A new baseline schedule is being developed and the capital cost estimate will be updated in the current quarter, Teck stated.
There are currently 7 500 people actively working across six major construction areas on the project. Full production is still expected to be reached in 2020.
QB2 will extend the Quebrada Blanca mine’s copper production and mine life by more than 25 years. The project is forecast to produce 316 400 t/y of copper-equivalent in the first five years of its mine life.
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