Teck slashes guidance, Covid delays Chile expansion by up to 6 months

Canadian diversified miner Teck Resources said on Thursday that all its mines across Canada, Peru, Chile and the US, were producing and that it was gradually ramping up construction activities at the previously-suspended Quebrada Blanca Phase 2 (QB2) expansion project.

However, the company cautioned that Covid-19 has had a significant negative impact on prices and demand for its products and that its production for the year would be significantly lower than initially thought.