Teck Secures 100% Clean Power at AES Andes, Quebrada Blanca Phase 2, The Canadian Business Journal

VANCOUVER, British Columbia, November 10, 2022 (GLOBE NEWSWIRE) — Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) and AES Corporation (NYSE: AES) today announced that Chilean affiliates Compañía Minera Teck Quebrada Blanca SA and AES Andes SA (“AES Andes”) have signed a long-term clean power purchase agreement for the Quebrada Blanca Phase 2 Copper Project (“QB2”) in Chile. Under the 17-year contract, AES Andes will provide 1,069 gigawatt hours (“GWh/year”) of energy per year from renewable sources, per the QB2 renewable energy announcement in February 2020, with Achieve 100% clean renewable energy. 2025.

AES Andes supplies QB2 with clean energy using a growing renewable portfolio that includes wind, solar, hydro and battery plants.

In total, approximately 1.6 million tons of greenhouse gas (“GHG”) emissions are avoided annually by using 100% renewable energy for QB2 instead of coal-fired power generation. This is more than the annual emissions of all vehicles in the city of Vancouver or 2.5 times the number of vehicles in the Tarapaca region of Chile, where QB2 is located.

Tech CEO Jonathan Pryce said: “Achieving fully renewable power in QB2 will allow us to meet our goal of net zero Scope 2 emissions by 2025, using clean power to reduce the GHG footprint of our business. can be minimized.”

AES Andes CEO Javier Dib said: The long-term renewable contracts we are signing through Coal to Green solutions enable us to make our strategic customers’ businesses more sustainable and competitive, helping them transition to emission-free energy. We believe that by working together we can accelerate the energy future and advance the sustainable energy transition that Chile is undertaking. “

The deal enables Teck to reach its goal of net zero Scope 2 emissions (emissions associated with purchased electricity) by 2025, making it the first company in the mining industry to achieve this goal. be one. It will also contribute to Teck’s 2030 goal of reducing the carbon intensity of his operations by 33%, ultimately making him a net-zero operator by 2050. Teck previously announced that Carmende’s Andacolo business in Chile will switch to 100% renewable electricity. Click here to learn more about Teck’s approach to addressing climate change.

With the Greentegra strategy, AES Andes continues to transform and has already signed more than 6,500 GWh/y of renewable contracts with Chilean mining companies, equivalent to powering 3 million Chilean households To do.

The terms of the contract are confidential.

Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and forward-looking information as defined in the U.S. Securities Act (Ontario). Forward-looking statements and information may contain words such as “expect,” “intend,” “anticipate,” “could,” or variations of such words or phrases, or An action, event, or outcome can be identified by the use of the statement “may be.” ‘, ‘could’, ‘could’, ‘would’, ‘could’, or ‘would’ be taken, occurred or achieved. Forward-looking statements include statements regarding projected and realized reductions in GHG emissions. Future decarbonization initiatives; including net-zero scope 2 emissions by 2025, reducing the carbon intensity of operations by 33% by 2030, and becoming a net-zero operator by 2050 , achieving Teck’s climate change goals.

Forward-looking statements in this press release describe projected and realized reductions in GHG emissions, achievement of energy efficiency in line with expectations, general economic conditions, and the performance of our business and climate change. Based on assumptions about our capabilities. including goals and the long-term impact of those goals on our business; The preceding list of assumptions is not exhaustive. Forward-looking statements involve known and unknown risks, uncertainties and other factors and Teck’s actual results, performance or achievements may not be expressed or implied by the forward-looking statements. Future results, performance or achievements may differ materially. Factors that could cause actual results to differ include, but are not limited to, final power sources under the QB2 Power Agreement. Costs of decarbonization and other climate impact initiatives. failure of the counterparty to perform; changes in commodity prices or general economic conditions; actual climate change impacts; unavailability of suitable technology in suitable conditions; changes in or enforcement of laws and government regulations that affect our operations or strategy; Additional risk factors are detailed from time to time in Teck’s reports filed with the Canadian Securities Administrators and the US Securities and Exchange Commission.

Some of these risks are described in more detail in Teck’s annual information forms and public filings with Canadian securities administrators and the US Securities and Exchange Commission. Teck undertakes no obligation to revise or update these forward-looking statements after the date of this document, or to revise them to reflect the occurrence of unanticipated future events, except as required by applicable securities laws. shall not be obliged to do so.

About Tech
As one of Canada’s leading mining companies, Teck is committed to responsible mining and minerals development, with primary business units focused on copper, zinc and iron-making coal. The transition to a low-carbon society requires copper, zinc and high-quality iron-making coal. Headquartered in Vancouver, Canada, Tech’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and on the New York Stock Exchange under the symbol TECK. Learn more about Teck here www.teck.com or follow @TeckResources.

About AES Andes
AES Andes produces and sells energy in Chile, Colombia and Argentina with a mission to improve lives by accelerating a safer and more sustainable energy future. The company operates his 5,101 MW in the region along with a large portfolio of renewable energy projects under development. The company is one of the region’s leading power generation companies with a diversified portfolio that includes hydro, wind, solar, energy storage, biomass, gas and coal power plants.

In Chile, AES Andes owns and operates 3,356 MW. This includes 2,129 MW of fossil fuels, 771 MW of hydropower, 277 MW of wind power, 104 MW of solar power, and 13 MW of biomass, plus 62 MW of energy storage batteries, seawater, and seawater desalination in Chile. Plants, power lines, gas pipelines. The company also owns a hydroelectric and solar power plant with a total capacity of 1,102 MW in Colombia and a natural gas combined cycle power plant with an installed capacity of 643 MW in Argentina. AES Andes is 99% owned by AES Corporation. For more information on AES Andes, please visit www.aesandes.com/en/investors.

Teck Media Contacts:
Chris Stannell
public relations manager
604.699.4368
[email protected]

Tech Investor Contact:
Fraser Phillips
Senior Vice President, Investor Relations and Strategic Analysis
604.699.4621
[email protected]

Teck Chile media contact:
Pamela Chait, Manager of Corporate Affairs
56.2.224645422
[email protected]

Contact AES Andes Media:
Karin Nicklander
Communication manager
56.9.96991442
[email protected]

AES Andes investor contact:
John Wills
Head of Investor Relations
56.9.40263099
[email protected]

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