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26/06/2022

🌈 Build Your Career at Teck 👣👥

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Teck offers a unique opportunity to plan your career journey through different operational or sales business units in jurisdictions around the world, while taking on a variety of challenging work assignments

We are committed to fostering a culture of innovation and inclusion across the company. That's why we've been committed to nurturing and developing our people right from the start.

24/06/2022

Copper’s Role in a Low-Carbon Economy
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Climate change is top of mind for much of the world’s population. The transition to renewable energy and electrification will require commodities like copper. Learn more about how the copper we produce is helping to build the low-carbon future.

23/06/2022

Copper & Health at Teck😊

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Every day, high-touch surfaces present health risks to the public. But copper surfaces can help. With naturally antimicrobial properties, copper can help stop the spread of viruses and bacteria. And by working together to introduce more copper surfaces in public spaces, we can too.

22/06/2022

😉A first of its kind in Canada – Teck and Vancouver International Airport are installing antimicrobial copper surfaces across the airport to add a layer of safety for travellers.

21/06/2022

🥰🥰We had such a great time at the MineralsEd Community Fair celebrating the importance of mining, minerals and geoscience in daily life👍

19/06/2022

TECK's Technology Transformation Teck’s Technology Transformation Programs Enhance Performance, Safety and Sustainability; Expected to Generate $1.1 billion in Annualized Benefits

17/06/2022

teck takes action on climate change and strives to achieve net zero greenhouse gas emissions across our operations and value chain by 2050.

17/06/2022

Australia’s Golden Rim Resources (ASX: GMR) has executed an option and joint venture agreement with Teck Resources (TSX: TECK.A | TECK.😎 (NYSE: TECK), Canada’s largest diversified miner, to develop the Loreto copper project in Chile.
The asset is located 120 km north of Teck’s Quebrada Blanca, the miner’s main growth project, and it is surrounded by operations run by BHP and Codelco, Golden Rim said.
The deal grants Teck’s subsidiary Teck Chile options to earn up to a 75% interest in Loreto by providing Golden Rim with $600,000 in staged cash payments. The Vancouver-based miner will also have to spend $17 million on exploration.
“Golden Rim believes that Loreto could well represent the last unexplored outcropping Oligocene-Eocene porphyry system in northern Chile,” managing director Craig Mackay said in the statement.
The company noted that mineral concessions at its adjacent Paguanta project are not included in the agreement, adding it was pursuing an alternative deal for the asset.
Teck is currently expanding its Quebrada Blanca mine. The project, dubbed Quebrada Blanca Phase 2 (QB2), is slated to begin operations in the second half of the year, doubling the company’s copper production by 2023.
The company recently flagged costs at the almost-finished expansion could rise by up to $500 million to between $900 million and $1.1 billion.
The project will allow Teck to extend the aging mine’s life by 28 years and boost production to 300,000 tonnes of copper a year from 287,000 tonnes in 2017.
The mining giant is already studying a Phase 3, which will double Quebrada Blanca’s capacity to 600,000 tonnes of copper a year. The potential extension will make the mine Chile’s second-largest copper operation, after Escondida. It would also situate it among the world’s top five copper mines.

16/06/2022

Teck Resources (TSX: TECK.A and TECK.B, NYSE: TECK) announced on Wednesday that the Highland Valley Copper Operations (HVC) in south-central British Columbia has been awarded the Copper Mark.
Copper Mark is a voluntary assurance framework to promote responsible production practices and demonstrate commitment to the United Nations Sustainable Development Goals. To be verified for Copper Mark, HVC was assessed and independently verified against 32 responsible production criteria including greenhouse gas emissions, community health and safety, respect for Indigenous rights and business integrity, Teck said.
“Copper is an essential material for the low-carbon future, and our focus is on helping meet the growing global need for copper in an environmentally and socially responsible way,” CEO Don Lindsay said in the media statement.
“We are proud that Highland Valley Copper has been awarded the Copper Mark, demonstrating the operation’s commitment to sustainability and to ensuring customers have the information they need on our performance as a responsible copper producer.”
“HVC is our first Copper Mark recipient in Canada, and we congratulate them on their commitment to responsible practices,” said Michèle Brülhart, Executive Director of the Copper Mark.
Highland Valley Copper Operations is Teck’s first copper operation to achieve certification, with plans for each of Teck’s copper operations to be verified in the future. This includes Carmen de Andacollo and QB2, which is expected to begin production in the second half of 2022, the company said.

15/06/2022

Teck Resources Ltd. (TSX: TECK.B, NYSE: TECK) will begin piloting an all-electric haul truck at its Highland Valley copper mine this year.
Teck today announced it is partnering with MEDATech on a pilot project that will see an all-electric haul truck used to haul copper concentrate from its Highland Valley copper mine to a rail loading facility in Ashcroft — a roundtrip of 95 kilometers.
The announcement follows a previous announcement in January when Teck said it plans to phase out diesel haul trucks in its B.C. operations and replace them with up to 30 electric haul trucks. That plan includes a pilot project at its Elk Valley metallurgical coal mine operations, where a trolley-assist system will be used to recharge the vehicles.
The demonstration projects are part of Teck’s target of reducing the carbon intensity of its operations by 33% by 2030 and becoming carbon-neutral by 2050.
The Highland Valley pilot project will use a MEDATech ALTDRIVE-powered fifth-wheel Western Star truck. A roundtrip to Ashcroft and back is about 95 kilometres, and the truck will make four to five trips per day.
“Since the truck batteries will charge on the downhill haul through regenerative braking, the rig will require only a short battery recharge at the Ashcroft, B.C. rail terminal so the haul cycle time is expected to be the same as a conventional truck,” MEDATech president Robert Rennie said in a press release.
“Testing and implementing new electric vehicle technologies is one way we are taking concrete steps towards achieving our goal of being carbon neutral across our operations,” said Teck CEO Don Lindsay.
The pilot project is expected to begin this summer. Teck estimates it can eliminate 418 tonnes of CO2 annually –equivalent to 90 passenger cars. Teck also expects the move to all-electric will reduce both fuel and maintenance costs.

14/06/2022

Teck Resources (TSX: TECK.A; TSX: TECK.B; NYSE: TECK) has announced an agreement with Caterpillar to work towards deploying 30 of Caterpillar’s zero-emissions large haul trucks at Teck mining operations.
Decarbonizing Teck’s vehicle fleet represents a significant reduction in Scope 1 emissions as Teck works towards its goals to reduce the carbon intensity of its operations by 33% by 2030 and be a carbon-neutral operator by 2050.
“Teck is already one of the world’s lowest carbon intensity producers of copper, zinc and steelmaking coal, and now we are taking further action to develop and implement the technology needed to reduce the carbon footprint of our operations and support global efforts to combat climate change,” said Don Lindsay, Teck’s president and CEO.
“Decarbonizing our haul truck fleet is a critical step forward on our road to carbon neutrality and we are pleased to collaborate with Caterpillar to advance this work.”
Caterpillar Group President Denise Johnson added: “We look forward to working with Teck to support their climate goals and developing solutions to increase operational efficiency while substantially reducing emissions. We are excited to strengthen our collaboration and deliver results.”
Together, the companies plan to progress through a multi-phased approach that includes early development, piloting and deployment of 30 zero-emission vehicles, including Cat 794 ultra-class trucks beginning in 2027.
Teck anticipates initially deploying zero-emissions trucks at its Elk Valley steelmaking coal operations in British Columbia. The operations are already powered by a 95% clean electricity grid, making it an ideal location to introduce one of Canada’s first zero-emissions large haul truck fleets, with options for trolley-assist technology.

13/06/2022

Canada’s largest diversified miner, Teck Resources (TSX: TECK.B; Nasdaq: TECK) has started trialing Jetti Resources’ proprietary chemical catalyst at its copper assets.
Jetti is a start-up founded in 2014 that has introduced to the industry its eponymous technology, which it says makes it possible to extract copper from low-grade primary sulphides like chalcopyrite, the world’s most abundant copper mineral ore.
The technology is said to have the potential to unlock value in copper resources outside of current mine plans. Jetti applies its catalyst directly to run-of-mine ore, which is proven to cost-effectively and environmentally responsibly increase copper yields.
Jetti will set up a trial operation, transitioning to commercial scale subject to satisfactory results and approvals.
The companies will also measure and assess the environmental benefits of applying the technology to already mined material. The expected benefits include lower water and power consumption and greenhouse gas emissions.
Teck also agreed to invest in Jetti to accelerate economic benefits for both parties. It will result in more trials and further potential deployments at Teck sites.
“Our focus is on responsibly growing copper production. Jetti’s technology has the potential to support this objective,” Teck’s SVP, base metals, Shehzad Bharmal said in a news release.
Teck is a significant copper producer in the Americas, with four operating copper mines and a pipeline of development projects in North and South America. Copper accounted for about 44% of the company’s profit in 2020.
Teck, newly named to the Forbes Canada’s Best Employers 2022 list for the second year, has about 33 million tonnes of contained copper in the combined reserves and resources categories. Teck has guided for total copper output of 275,000 to 290,000 tonnes in 2021.
In a recent study, market analyst CRU defined Jetti’s total addressable market through to the end of 2050 as 234 million tonnes of contained copper, which Jetti estimates at current copper prices to be worth $2.4 trillion.
Jetti technology was tested in 2020 by Capstone Mining (TSX: CS; US-OTC: CSFFF) at its Pinto Valley mine in Arizona. During the first year of Capstone’s partnership with Jetti, cathode production per area irrigated has doubled, Capstone announced at the time.
Headquartered in Colorado, with offices in Santiago and Vancouver, Jetti is a recipient of the Canadian Government’s Natural Resources Clean Growth Program funding to further research.

12/06/2022

Canada’s largest diversified miner Teck Resources (TSX: TECK.A; TSX: TECK.B; NYSE: TECK) says the unprecedented rain and flooding in British Columbia has disrupted the supply chain between west coast terminals and its BC-based operations.
Two days of torrential rain across the province caused major flooding and shut rail routes operated by Canadian Pacific Rail (TSX: CP) and Canadian National Railway (TSX: CNR), Canada’s two biggest rail companies.
The once-in-a-century weather phenomenon caused widespread landslides, severing the Lower Mainland access routes from the interior, and killing at least one person.
Teck said in a statement it has implemented measures to mitigate the effect of the disruption, diverting some trains to Ridley Terminals in Prince Rupert.
CP and CN have started repairs but do not currently have estimated return to service dates.
“The overall impact and any potential effect on Q4 sales will be dependent on the duration of the logistics chain disruption,” Teck said in a media statement, adding that production at its operations has not been impacted.
Headquartered in Vancouver, Teck produces metallurgical coal for export, and copper and zinc in BC.

11/06/2022

Teck Resources (TSX:TECK.A | TECK.😎 (NYSE: TECK), Canada’s largest diversified miner, said this week that while construction of its massive Quebrada Blanca Phase 2 (QB2) expansion project in Chile is two-thirds complete, costs are anticipated to be up to 5% higher than the original $5.3 billion estimate.
Delivering results for the third-quarter, in which Teck recorded an $816 million profit, the Vancouver-based miner said despite challenges faced over the past year, production at QB2 is expected to begin in the second half of 2022.
Teck’s chief executive Don Lindsay cited challenges with “port offshore” and tailings facility construction as the main causes of the cost increase, noting the company will issue updated capital cost guidance on the project in February 2022, when posting Q4 results.
Construction at QB2, slated to produce 300,000 tonnes of copper equivalent per year for the first five years of its life, was suspended in March 2020 when the first cases of covid-19 appeared in the South American nation. The miner originally expected the work halt to last for two weeks, but as the pandemic overtook much of Chile, it was forced to delay the project through August.
In a call with analysts, Lindsay said QB2 remained a key project, as it is expected to double Teck’s copper production by 2023. It is expected to extend the ageing deposit’s life by 28 years and substantially boost production to 300,000 tonnes of copper a year from 23,400 tonnes in 2017.
The Canadian mining giant is already studying a Phase 3 for the mine, which will double its capacity to 600,000 tonnes of copper a year. The potential extension will make the mine Chile’s second-largest copper operation, after Escondida. It will also situate Quebrada Blanca among the world’s top five copper mines.
In terms of costs, Phase 3 would need a $5 billion investment, as it would have to include the installation of a new concentrator.
Copper is one of four business units at Teck, besides steelmaking coal, oil and zinc, and is considered a company priority.

10/06/2022

Teck Resources (TSX: TECK.A and TECK.B, NYSE: TECK) has executed a $4 billion sustainability-linked revolving credit facility (SLRCF).
“We’re always working to make our sustainability performance even stronger,” CEO Don Lindsay said in a media release. “This sustainability-linked facility more fully integrates our performance against our sustainability goals with our financing plan.”
Under the SL RCF the price paid by Teck will increase or decrease based on the company’s performance in reducing carbon emissions, improving health and safety, and strengthening gender diversity in its workforce.
The SL RCF is aligned with Teck’s long-term sustainability strategy, which sets out goals including reducing carbon intensity by 33% by 2030 and becoming carbon neutral across operations by 2050.

09/06/2022

Teck Resources (TSX: TECK.A, TECK.B, NYSE: TECK) on Wednesday released its third TCFD-aligned climate change report, Climate Change Outlook 2021, outlining how the company will continue working to reduce emissions to achieve the goal of being a carbon-neutral operator by 2050.
Teck’s 2021 report outlines three climate-related scenarios looking forward to 2040, helping to identify the range of future risks and opportunities to inform corporate strategy and risk management.
The first scenario highlights Teck’s current focus, copper growth to transition its portfolio to metals; the second, its 10+ years focus on growing its metals business in areas essential to the transition to a low-carbon world and continue to produce steelmaking coal required for the low-carbon transition and reduce carbon; the third, the 20+ years scenario, focuses on becoming a leading metals producer for a low-carbon world.
In all scenarios, Teck said it sees continued demand for copper, zinc and steelmaking coal — some of the basic building blocks of a low-carbon future.
Copper demand growth is directly tied to decarbonization, driven by growth in low-emissions vehicles, energy storage and transmission, improved energy efficiency and renewable energy generation.
As a copper producer in the Americas with a strong pipeline of projects, Teck said its Quebrada Blanca Phase 2 (QB2) project in Chile, currently under construction, will double its consolidated copper production when production starts in 2022.
“Teck is taking significant steps to address climate change risks because we know all sectors, including mining, need to play an active role in contributing to solving the challenge of climate change,” said Marcia Smith, SVP, Sustainability and External Affairs in the media statement.
“We are working to reduce the carbon footprint of our operations, while at the same time rebalancing our portfolio towards copper, which is an essential metal for low-carbon technology and infrastructure,” Smith said.
Teck said it is committed to reducing operational greenhouse gas (GHG) reduction targets in line with limiting global warming to 1.5°C.
“In 2020, we set an ambitious, long-term goal to become a carbon-neutral operator by 2050, with a shorter-term goal to reduce the carbon intensity of our operations by 33% by 2030,” Teck said. “To realize this vision, we have set an initial roadmap with corresponding 2025 and 2030 goals, including procuring 50% of our electricity demands in Chile from clean energy by 2025 and 100% by 2030.
Last year, Teck switched to 100% renewable power at its Carmen de Andacolla operation and entered into a power purchase agreement to procure over 50% of operational power needs at QB2 from renewable sources.
These initiatives, the company said, will avoid approximately one million tonnes of GHG emissions annually, equivalent to the emissions from about 210,000 passenger vehicles.

08/06/2022

British Columbia’s Ktunaxa Nation and Teck Resources (TSX: TECK.A and TECK.B, NYSE: TECK) have signed a Joint Management Agreement for more than 7,000 hectares of land purchased by Teck in 2013 for conservation.
The lands are located in ʔamakʔis Ktunaxa and in the region of Teck’s steelmaking coal operations in southeast British Columbia.
Under the Agreement, the Ktunaxa Nation and Teck agree to jointly manage the land for conservation purposes protecting significant fish and wildlife habitat. The Agreement will also support the Ktunaxa Nation Stewardship Principles, and Teck’s goal to achieve a net positive impact on biodiversity in the areas where it operates.
“This agreement between the Ktunaxa Nation and Teck solidifies our commitment to protect ʔa·kxam̓is q̓api qapsin (All Living Things) in our territory of ʔamakʔis Ktunaxa. We look forward to working with stakeholders in the region to ensure this unique area will be managed according to principles of respect for the land and all those who live within it,” Kathryn Teneese, Ktunaxa Nation Chair said in the media release.
Teck and the Ktunaxa Nation worked closely with stakeholders to purchase the land in 2013 in the Elk Valley and Flathead River Valley because of its exceptional social, cultural and ecological value, they said.
“This agreement will support responsible joint management and protection of these important conservation lands,” said Teck CEO Don Lindsay. “Together, we can advance our mutual objective of conserving these culturally and ecologically significant lands for years to come, while also making progress towards Teck’s vision of a net positive impact on biodiversity.”
The purchase was one of the single biggest private sector investments in land conservation in B.C. history. There are approximately 7,150 hectares in total of private lands consisting of three parcels: Flathead Townsite (992 hectares), Alexander Creek (3,098 hectares) and Grave Prairie (3,059 hectares).
The lands provide important habitat for numerous species, such as grizzly bear, wolverine, badger, elk, lynx, mountain goat, bighorn sheep, westslope cutthroat trout and bull trout, and hold significant value for local communities. A map of the area can be found here.
Teck and the Ktunaxa said they will begin implementation of the Joint Management Agreement this month, including developing conservation management plans with input from communities and other stakeholders.

07/06/2022

Teck Resources, (TSX:TECK.A | TECK.😎 (NYSE: TECK) Canada’s largest diversified miner, could see its Quebrada Blanca Phase 2 (QB2) expansion project in Chile delayed by up to six month due to covid-19 disruptions.
Delivering results for the second-quarter, in which Teck recorded a $149 million-loss, the Vancouver-based miner said all its mines across Canada, the United States, Chile and Peru had continued operating.
Construction activities related to the second phase of the expansion of Teck’s Quebrada Blanca copper mine were suspended in March to comply with Chile’s efforts to limit the spread of covid-19.
The measure, originally intended to last two weeks, affected about 15,000 workers.
While the company is gradually ramping up work at QB2, it noted completion of the project could take between five and six months beyond the expected Q4-2021 deadline.
Such delay would come at a cost of $260 to $290 million (excluding interest), assuming the ramp up activities in the third quarter of the year go according to plan, Teck said.
The miner had suspended construction activities in March to help limit the transmission of covid-19. Field workforce was reduced to 500 people, following demobilization activities and it has since been gradually increased again.
Currently there are more than 3,000 people on site. As conditions allow, Teck plans to have 4,000 workers back at Quebrada Blanca by the end of July and 8,000 by the end of October.
Teck sees the Quebrada Blanca Phase 2 as its most significant growth opportunity, with the potential to double its copper business. It is expected to extend the ageing deposit’s life by 28 years and substantially boost production to 300,000 tonnes of copper a year from 23,400 tonnes in 2017.
The Canadian mining giant is already studying a Phase 3 for the mine, which will double its capacity to 600,000 tonnes of copper a year. The potential extension will make the mine Chile’s second-largest copper operation, after Escondida. It will also situate Quebrada Blanca among the world’s top five copper mines.
In terms of costs, Phase 3 would need a $5 billion-investment, as it would have to include the installation of a new concentrator.
Copper is one of four business units at Teck besides steelmaking coal, oil and zinc, and is considered a company priority.

06/06/2022

Teck Resources has announced that it aims to be carbon neutral across all its operations by 2050.
The miner, a major producer of base metals and metallurgical coal that also has oilsands assets, says its goal demonstrates its commitment to support the transition to a low-carbon economy. The move also aligns with Paris Agreement commitments made by Canada and Chile – home to the majority of Teck’s operations – to be carbon neutral by 2050.
“Setting the objective to be carbon neutral by 2050 is an important step forward in our commitment to reducing emissions and taking action on climate change,” said Don Lindsay, Teck’s president and CEO. “Climate change is a global challenge that our company and our industry need to contribute to solving. We will pursue the technologies and measures necessary to reduce carbon emissions across our business, while continuing to responsibly provide the metals and minerals necessary for the world’s transition to a low-carbon economy.”
Teck’s initial roadmap to carbon neutrality begins with first avoiding emissions, then eliminating or minimizing emissions. Measures the company will investigate include finding alternate ways to move materials, using cleaner power sources, and improving efficiency at its operations.
The company also notes it is investing in the metals required for the transition to a low-carbon economy – namely through building the Quebrada Blanca Phase 2 copper project in Chile. Teck announced today that it’s entered into a long-term power purchase agreement for the project that will see it use renewable energy for about half the energy required.
Teck’s pledge will be more difficult to keep if it goes ahead with building its proposed Frontier oilsands mine, 110 km north of Fort McMurray, Alberta.
Teck is currently awaiting a federal decision on whether Frontier can proceed. As proposed, Frontier would operate for 41 years, producing 260,000 barrels of bitumen per day. However, even if the project is approved, it will require higher oil prices to be economic.

05/06/2022

Teck Resources (TSX, NYSE: TECK) announced on Thursday a target to reduce carbon intensity by 33% by 2030 as part of its new sustainability strategy.

This builds on the previously announced commitment to be carbon neutral across all its operations and activities by 2050, Teck said.

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The move comes just weeks after Teck walked away from plans to build the C$20.6 billion ($15.7 billion) Frontier oilsands mine, only days before the Canadian government was slated to make a decision on the 260,000-barrel-per-day project in northern Alberta. Canada’s largest diversified miner will take a C$1.13 billion ($852.12 million) writedown on the project.

THIS BUILDS ON THE PREVIOUSLY ANNOUNCED COMMITMENT TO BE CARBON NEUTRAL ACROSS ALL ITS OPERATIONS AND ACTIVITIES BY 2050

“We are always challenging ourselves to improve sustainability performance, so we can be sure we are providing the mining products needed for a cleaner future in the most responsible way possible,” CEO Don Lindsay said in the media release.

“We have set ambitious new goals for carbon reduction, water stewardship, health and safety, and other areas because we believe that a better world is made possible through better mining.”

Teck’s sustainability strategy also includes goals to procure 50% of its electricity demands in Chile from clean energy by 2020 and 100% by 2030 and accelerate the adoption of zero-emissions alternatives for transportation by displacing the equivalent of 1,000 internal combustion engine vehicles by 2025.

Last fall, Teck launched new electric passenger buses to transport employees to and from its Fording River and Greenhills steelmaking coal operations in British Columbia’s Elk Valley region.

04/06/2022

A recent study by researchers at Utah State University found that plants in Great Salt Lake wetland ecosystems are able to pull hazardous metal pollution from the lake and sometimes pass it up the food chain.

Located in northern Utah, the Great Salt Lake is the largest saltwater lake in the western hemisphere. In the areas that surround it, salt, magnesium and potash are produced, while a handful of companies are exploring the viability of extracting lithium from its briny waters.

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However, by sampling three types of native plants (threesquare, hardstem, and alkali bulrush) and invasive phragmites to monitor concentrations of metals and see where in the plants they accumulated, the USU researchers found that such metals reach the Great Salt Lake predominantly by way of runoff and atmospheric pollution caused by mines and refineries.

In a paper published in the journal Ecotoxicology, the scientists explain that wetland plants absorb metals from the soil and store them belowground in their roots, bulbs, and rhizomes or aboveground in shoots, leaves, and seeds. Where in the plant these metals end up residing has implications for environmental health.

“All the plants sampled were adept at storing selenium and arsenic belowground,” lead researcher Edd Hammill said in a media statement. “However, the phragmites had the highest concentrations of lead and mercury in their seeds, and all the plants had significant concentrations of other metals in their aboveground tissues.”

According to Hammill, toxic metals in aboveground plant tissues are a cause for concern for the insects that eat them and the terrestrial food web as a whole.

“The metals are fat-soluble so every bit consumed by herbivorous insects is stored in the insect tissues and gets passed on to predatory insects like spiders, damselflies, and dragonflies. Larger predators consume the predatory insects and the toxic metals move right up the food chain in larger concentrations,” Hammill said.

The researcher and his team also found copper and cadmium levels 10 times higher in predatory insects than in wetland plants, a hazard to resident waterfowl and the large numbers of migratory birds who flock to Great Salt Lake wetlands and feed on insects before passing on to other far-off habitats.

In their view, the propensity for wetland plants to absorb hazardous metals could be useful as a way to clean up lake pollution. Thus, given the results of their study, the scientists propose leaving wetland root systems intact while cutting the aboveground foliage and burying it in low-impact locations.

Hammill pointed out that the negative impact of metals on plants and animals ties into the broader conversation about conservation of the Great Salt Lake, particularly when it comes to lake water levels which have declined to record lows.

“Keeping the Great Salt Lake watered is critical to making sure the metals stay where they are now. If the lakebed gets exposed, dust and metals become airborne, which has a considerable human impact and makes the whole problem worse,” the researcher said.

02/06/2022

Albemarle Corp., the world’s largest producer of lithium, raised its outlook for the second time this month as tight supply and growing electric-vehicle demand forces battery makers to pay up for the metal.

The Charlotte, North Carolina-based miner now expects sales from $5.8 billion to $6.2 billion this year, up from its previous estimate of $5.2 billion to $5.6 billion. to boosted profit forecasts for the year due to “additional index-referenced, variable-price contracts for battery grade lithium sales,” it said in a statement. Shares jumped as much as 5.3% in trading after normal exchange hours.

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Demand for electric vehicles — and the batteries that power them — has driven prices for key metals higher, even sparking fears of shortages of materials like lithium, cobalt and nickel. Lithium supplies are a concern in particular because there’s no substitute for it in electric vehicle batteries. A gauge of lithium prices more than doubled in the first four months of this year after surging 280% last year.

The company last increased its guidance on May 4 when it released first-quarter earnings. Overall, the midpoint of Albemarle’s 2022 sales estimate is 38% higher than just a few weeks ago.

Shares of Albemarle lost 1% to $240.4255 as of 10:17 a.m. in New York trading. Earlier, they rose by as much as 2.9%.

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🌈 Build Your Career at Teck 👣👥 ------------------🍀🍀 Teck offers a unique opportunity to plan your career journey through different operational or sales business units in jurisdictions around the world, while taking on a variety of challenging work assignments We are committed to fostering a culture of innovation and inclusion across the company. That's why we've been committed to nurturing and developing our people right from the start.

Copper’s Role in a Low-Carbon Economy ‼️ ‼️ ‼️ ‼️ ‼️ ‼️ ‼️ ‼️ ‼️ Climate change is top of mind for much of the world’s population. The transition to renewable energy and electrification will require commodities like copper. Learn more about how the copper we produce is helping to build the low-carbon future.

Copper & Health at Teck😊 ———————————- Every day, high-touch surfaces present health risks to the public. But copper surfaces can help. With naturally antimicrobial properties, copper can help stop the spread of viruses and bacteria. And by working together to introduce more copper surfaces in public spaces, we can too.

😉A first of its kind in Canada – Teck and Vancouver International Airport are installing antimicrobial copper surfaces across the airport to add a layer of safety for travellers.

TECK's Technology Transformation Teck’s Technology Transformation Programs Enhance Performance, Safety and Sustainability; Expected to Generate $1.1 billion in Annualized Benefits