Canadian major Teck Resources on Monday reported that it was advancing the ramp-up of its Quebrada Blanca (QB) copper project in Chile and highlighted the long-term value potential of its planned merger with Anglo American, which it said would create one of the world’s largest copper producers.

“We have a clear path to creating tremendous value for shareholders by completing the transformative merger of equals with Anglo American and continuing to advance the ramp-up and optimisation of QB,” said Teck president and CEO Jonathan Price.

He added that combining QB and Anglo’s nearby Collahuasi mine was “one of the most compelling industrial synergy opportunities in the industry today” and would establish one of the world’s largest copper complexes.

Teck said performance at QB had improved following the implementation of the “QB Action Plan” in August, with mill throughput and recoveries running in line with expectations through October. Construction of three new rock benches has been completed, with two more due by mid-2026 to sustain production.

The company has replaced 59% of its tailings cyclones with new technology, targeting full replacement by the end of 2025, and reported improving sand drainage rates. It expects to complete the sand wedge in the first half of 2026, transitioning to steady-state operations later that year.

Teck noted that the current mine plan used only 15% of QB’s resource base, offering “multiple pathways for long-term growth".

QB-COLLAHUASI INTEGRATION POTENTIAL
Teck said the merger with Anglo American would unlock “unique industrial synergies” between QB and Collahuasi, which together could yield about 175 000 t/y of incremental copper and about $1.4-billion in additional earnings before interest, taxes, depreciation and amortisation a year (on a 100% basis).

The integration plan includes a 15-km conveyor linking the two operations, representing highly capital-efficient growth at about $11 000/t of new production.

“As the only shareholder in both ventures, Anglo Teck is well-positioned to work with a reduced number of partners to facilitate the capture of this substantial value upside,” Teck said.

Price added, “The value that will be created in combining Teck and Anglo American – for shareholders of both companies, QB-Collahuasi partners, and our customers, employees and the communities where we operate – is clear and compelling.”

The merger, once completed, would position Anglo Teck among the world’s top five copper producers, with more than 70% of revenues from copper and a “global critical minerals champion” profile, Teck said.