Slow water drainage in the tailings dam at Teck's QB2 mine in Chile has repeatedly dragged down production this year.
Teck Resources Ltd. TCK-N has cut its production forecast yet again at its QB2 mine as it continues to grapple with engineering problems at the high-altitude operation in Chile.
Vancouver-based Teck announced the latest QB2 guidance cut as it tries to convince its investors to vote for the takeover of the company by Anglo-American PLC NGLOY .
Teck on Wednesday said that it is reducing its guidance to roughly 180,000 tonnes of copper from about 220,000 tonnes. The company had already cut its QB2 guidance in July and January.
QB2 has been a problem asset for Teck for years. The US$8.7-billion project went 85 per cent over budget. After going into production in 2023, t