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COVID-related costs for Teck Resources’ Quebrada Blanca Phase 2 copper mine expansion will now cost between $900 million to $1.1 billion, up from their previous estimate of $600 million, according to mining.com. The company cites higher diesel prices, absenteeism and labor inefficiencies, and higher supply costs. Production is slated to begin later this year and is estimated to be 300,000 mt of copper per year by 2023. Another expansion plan, which would double production to be 600,000 mt per year, is also being studied. The second expansion would make it the world’s second-largest copper mine. (1/31/2022) |
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Note: Clients with AEGIS Platform access can see this and other research, plus hedge portfolio reporting and tools here. |
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AEGIS Insights |
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01/26/2022: AEGIS Factor Matrices: Most important variables affecting metals prices 01/10/2022: Section 232 Tariffs: Most relevant developments (AEGIS Reference) 11/30/2021: Will the Omicron COVID Variant Impact South African Metals Production or Exports? |
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Important Headlines & Economic Data |
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AISI Steel Capability Utilization Rate Investing.com Economic Calendar 1/28/2022: Teck Resources’ QB2 to cost up to $500m more than planned |
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| Important Disclosure: Indicative prices are provided for information purposes only, and do not represent a commitment from AEGIS Hedging Solutions LLC ("Aegis") to assist any client to transact at those prices, or at any price, in the future. Aegis makes no guarantee to the accuracy or completeness of such information. Aegis and/or its trading principals do not offer a trading program to clients, nor do they propose guiding or directing a commodity interest account for any client based on any such trading program.
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