Teck Resources Limited TECK recently acquired Columbia-based SunMine solar energy facility from the City of Kimberley.
SunMine’s 1.05 MW (megawatt) G solar facility is a first-of-its-kind in British Columbia, located on fully reclaimed land at the company’s former Sullivan Mine site. Also, the facility is first built on a reclaimed mine site with future growth potential.
SunMine has been in operation since 2015. Teck Resources has been providing the land and site infrastructure for development of the SunMine solar facility since it commenced operations.
A major producer of zinc, lead and silver, Teck Resources’ former Sullivan mine operated for nearly 100 years before it was shut down in 2001. Around 1,100 hectares of the former mining area has been reclaimed.
The transaction backs Teck Resources’ commitment to take action on weather changes, advance development of renewable energy and support the global transition to a low-carbon economy. Further, SunMine will aid the company to generate solar power as it is advancing solar-power usage at other operations.
In fact, the latest acquisition aligns with the company’s approach to work with shareholders, in order to develop post-mining land uses ranging from wildlife habitat to economic diversification.
Since 2011, Teck Resources has implemented projects and initiatives to reduce GHG emissions at its operations by 289,000 tonnes. The company’s 81% of total electricity consumption is from renewable energy sources.
The above-mentioned transaction is valued at $2 million and equal to the City of Kimberley’s outstanding debt for SunMine.
Recently, the company entered into an expanded commercial agreement with Ridley Terminals Inc. that will double its contracted capacity for the shipment of metallurgical coal from British Columbia operations to six-million tons a year.
Last December, Teck Resources and CN announced a long-term rail agreement for shipping of steelmaking coal from Teck Resources’ four British Columbia operations between Kamloops and Neptune Terminals, and other west coast ports. This will help lower total transportation costs, and enhance the overall rail and terminal performance.
Moreover, the company is advancing well with the Neptune Bulk Terminals facility upgrades, which will significantly boost terminal-loading capacity and improve its capability to meet delivery commitments while lowering overall logistics costs. The facility upgrades are anticipated to be completed in first-quarter 2021.
The agreements with Ridley Terminals and CN, and upgrades at its Neptune Terminal will contribute to improved overall performance throughout the company’s steelmaking coal-supply chain.
For fourth-quarter 2019, sales volumes are projected at 6.2-6.4 million ton. Planned outages at Ridley Terminals and Neptune Bulk Terminals will result in approximately 40 lost train dumping or berthing days, affecting sales volumes in the quarter.