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6-K 1 eh230358669_6k.htm FORM 6-K

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2023

Commission File Number: 001-13184

 

TECK RESOURCES LIMITED

(Exact name of registrant as specified in its charter)

 

Suite 3300 – 550 Burrard Street

Vancouver, British Columbia V6C 0B3

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☐    Form 40-F ☒

 

 

     

 

EXHIBIT INDEX

 

 

Exhibit Number   Description
     
99.1   Press Release dated May 12, 2023
99.2   Press Release dated May 12, 2023

 

 

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  Teck Resources Limited  
  (Registrant)  
       
       
Date: May 12, 2023 By: /s/ Amanda R. Robinson
    Amanda R. Robinson  
    Corporate Secretary  

 

 

 

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EX-99.1 2 eh230358669_ex9901.htm EXHIBIT 99.1

EXHIBIT 99.1

 

 

 

 

For Immediate Release Date: May 12, 2023

23-43-TR

 

 

Teck Announces Regulatory Approval for the Zafranal Project

 

Vancouver, B.C. – Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) announced today that the Zafranal copper project in Peru has received regulatory approval from SENACE, Peru´s National Service of Environmental Certification for Sustainable Investments. Zafranal is a highly competitive, mid-sized copper-gold development project located in the porphyry copper belt of Southern Peru in the Arequipa Region. The deposit is owned by Compañía Minera Zafranal S.A.C. (“CMZ”), of which Teck owns 80% and Mitsubishi Materials Corporation (“MMC”) owns 20%.

 

“Regulatory approval of the Zafranal Project is an important step forward in our strategy to grow our copper business and unlock significant value for shareholders,” said Jonathan Price, CEO, Teck. “Zafranal will be a low-cost, long-life operation, and is a key part of Teck’s industry-leading pipeline of high-quality, low-cost copper assets in well-established mining jurisdictions in the Americas.”

 

Located in the Arequipa region, in southern Peru, Zafranal has an expected mine life of 19 years and will produce copper-gold concentrates through an open-pit mining and conventional concentration process. Copper ore processing, including crushing, grinding, flotation, thickening and filtering, will be carried out in a concentrator plant with a processing capacity of up to 80,000 tonnes of ore throughput per day. The mine and concentrator are expected to produce an average of 133,000 tonnes of copper contained in concentrate during its first 5 years of production.

 

A Feasibility Study of the Zafranal Project was completed in June 2019 by Ausenco which was updated in January 2020 to include discrete value-added engineering updates. Moving forward, the Zafranal team will update project capital and operating cost estimates and will develop detailed engineering plans as well as minor permitting activities through 2023. The project could be positioned for a formal project sanction decision as early as H1 2024.

 

Receiving regulatory approval for the Zafranal Project is another positive step in Teck’s strategy to advance its industry leading Copper Growth portfolio in a timely and prudent manner.

 

Forward Looking Statements

This press release contains certain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information as defined in the Securities Act (Ontario). Forward-looking statements and information are statements other than historical fact and can be identified by statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or achieved. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors, which may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements in this release include statements concerning: the expectations regarding the timeline for initiating permitting, development and sanctioning of Zafranal and expectations regarding mine life, production capacity, run-rates, and operating costs for Zafranal.

 

   

 

Forward-looking statements and information are made based upon certain assumptions, including but not limited to, assumptions that Zafranal can and will be developed and sanctioned in accordance with Teck’s current plans, will operate as expected, and regarding capital and operating costs. Factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others, Teck’s ability to advance permitting and development of Zafranal, including challenges to our permits, risks related to mineral reserves and resources estimation, metallurgical recoveries and mine life, development risks, regulatory restrictions (including environmental and other regulatory restrictions and liabilities), activities by governmental authorities, increases in expected capital and operating costs, and changes in expectations with respect to sanction decisions. The foregoing list of important factors and assumptions is not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or implied by our forward-looking statements and information. Certain of these risks are described in more detail in Teck’s 2022 Annual Information Form and Form 40-F and in subsequent public filings by Teck with Canadian securities administrators and the US Securities and Exchange Commission. None of Teck, MMC or CMZ assume any obligation to revise or update these forward-looking statements and information after the date of this document or to revise them to reflect the occurrence of future unanticipated events, except as required under applicable securities laws.

 

About Teck

As one of Canada’s leading mining companies, Teck is committed to responsible mining and mineral development with major business units focused on copper, zinc, and steelmaking coal. Copper, zinc, and high-quality steelmaking coal are required for the transition to a low-carbon world. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.

 

About MMC

Mitsubishi Materials Corporation, founded in 1950, is a Japan-based company principally engaged in the processing and manufacturing of non-ferrous metals and products. The group operates businesses in over 30 countries across the world and employs around 23,000 people. Its extensive scope of operations ranges from mining, smelting/refining and recycling, to high-performance processed products, providing solutions for a sustainable society. For more information, visit our website at https://www.mmc.co.jp/corporate/en/.

 

 

Teck Media Contact:

Chris Stannell

Public Relations Manager

604.699.4368

chris.stannell@teck.com

 

Teck Investor Contact:

Fraser Phillips

Senior Vice President, Investor Relations & Strategic Analysis

604.699.4621

fraser.phillips@teck.com

 

MMC Contact:

Corporate Communications Dept., Strategic Headquarters,

Mitsubishi Materials Corporation

Tel:+81-3-5252-5206

 

 

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EX-99.2 3 eh230358669_ex9902.htm EXHIBIT 99.2

EXHIBIT 99.2

 

 

 

 

For Immediate Release Date: May 12, 2023

23-44-TR

 

 

 

Teck Completes Plan of Arrangement Introducing a

Sunset for Dual Class Share Structure

 

Vancouver, B.C. – Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) announced today that it has completed the previously announced plan of arrangement under the Canada Business Corporations Act to introduce a six-year sunset for the multiple voting rights attached to the Class A common shares of Teck (the “Dual Class Amendment”).

 

As explained more fully in Teck’s management proxy circular dated March 23, 2023, each Class A common share was acquired by Teck in exchange for one new Class A common share and 0.67 of a Class B subordinate voting share. The terms of the new Class A common shares are identical to the terms of the current Class A common shares, but provide that, on the sixth anniversary of the effective date of the Dual Class Amendment, being May 12, 2029, all new Class A common shares will automatically be exchanged for Class B subordinate voting shares, which will be renamed “common shares”.

 

Class A common shareholders of record as of the close of business on May 11, 2023 (the “Record Date”) will receive from TSX Trust Company, Teck’s registrar and transfer agent, on or about May 19, 2023 (the “Payment Date”) 0.67 of a Class B subordinate voting share per each Class A common share.

 

The Class A common shares are trading on a due bill basis up to and including the Payment Date (i.e., May 19, 2023). A due bill is an entitlement attached to listed securities undergoing a material corporate action, such as the Dual Class Amendment. In this instance, the entitlement is to the new Class A common shares and Class B subordinate voting shares on the exchange of the Class A common shares. Any trades that are executed during the due bill period are flagged to ensure purchasers receive the entitlement to a new Class A common share and 0.67 of a Class B subordinate voting share per each Class A common share issuable as a result of the Dual Class Amendment. Ex-distribution trading in the Class A common shares on a post-Dual Class Amendment basis will commence on May 23, 2023, as of which date purchases of Class A common shares will no longer have the attaching entitlement. The due bill redemption date will be May 24, 2023.

 

Shareholders do not need to take any action in connection with the Dual Class Amendment. Currently outstanding share certificates and direct registration system (“DRS”) advice statements representing Class A common shares will continue to be effective and should be retained by shareholders and not forwarded to Teck or TSX Trust Company. Teck will use the DRS to electronically register the Class B subordinate voting shares issued pursuant to the Dual Class Amendment, rather than issuing physical share certificates. On or around May 19, 2023, TSX Trust Company will send out DRS advice statements to registered shareholders indicating the number of Class B subordinate voting shares that they are receiving as a result of the Dual Class Amendment.

 

   

 

In addition, TSX Trust Company will electronically issue the appropriate number of Class B subordinate voting shares to CDS Clearing and Depositary Services Inc. (“CDS”) for further distribution by CDS to its participants. Non-registered (beneficial) shareholders who hold their Class A common shares in an account with their investment dealer or other intermediary will have their accounts automatically updated by such investment dealer or intermediary to reflect the Class B subordinate voting shares issued pursuant to the Dual Class Amendment in accordance with the applicable brokerage account providers’ usual procedures.

 

In no event will any Class A common shareholders be entitled to receive a fractional Class B subordinate voting share pursuant to the Dual Class Amendment. Where the aggregate number of Class B subordinate voting shares to be received by a Class A common shareholder would result in a fraction of a Class B subordinate voting share being issuable (i) the number of Class B subordinate voting shares to be issued to such shareholder will be rounded down to the closest whole number; (ii) TSX Trust Company will aggregate all such fractional Class B subordinate voting shares and cause them to be sold in the open market for the account of such shareholders; and (iii) the proceeds that TSX Trust Company may realize from the sale of such fractional Class B subordinate voting shares will be distributed, after deducting any required withholding taxes and any brokerage charges, commissions and transfer taxes, to each shareholder entitled thereto pro rata to their respective fractional interests.

 

About Teck

As one of Canada’s leading mining companies, Teck is committed to responsible mining and mineral development with major business units focused on copper, zinc, and steelmaking coal. Copper, zinc and high-quality steelmaking coal are required for the transition to a low-carbon world. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.

 

Investor Contact:

Fraser Phillips

Senior Vice President, Investor Relations and Strategic Analysis

604.699.4621

fraser.phillips@teck.com

 

Media Contact:

Chris Stannell

Public Relations Manager

604.699.4368

chris.stannell@teck.com

 

 

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