2. Forward Looking Information
Both these slides and the accompanying oral presentation contain certain forward-looking statements within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario). Forward-looking statements
can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not anticipate”, or “believes”, or variation of such words and phrases or state that certain actions, events or results “may”,
“could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or achievements of Teck to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking statements.
These forward-looking statements include the statements under the “Looking Ahead” section and the “Project Developments” section which relate to
estimates, forecasts, and statements as to management’s expectations with respect to the matters discussed in those sections, including, but not limited
to, progress and costs of growth projects, future trends for the company, future production and sales volumes, demand and market outlook for
commodities.
These forward-looking statements involve numerous assumptions, risks and uncertainties and actual results may vary materially. These statements are
based on a number of assumptions, including, but not limited to, assumptions regarding general business and economic conditions, the supply and
demand for, inventories of, and the level and volatility of prices of primary metals and minerals produced by Teck as well as oil, natural gas and petroleum
products, the timing of receipt of regulatory and governmental approvals for Teck’s development projects and other operations, the availability of financing
for Teck’s development projects on reasonable terms, Teck’s costs of production and production and productivity levels, as well as those of its
competitors, power prices, market competition, the accuracy of Teck’s reserve estimates (including, with respect to size, grade and recoverability) and the
geological, operational and price assumptions on which these are based, tax benefits, the resolution of environmental and other proceedings, our ongoing
relations with our employees and partners and joint venturers, performance by customers and counterparties of their contractual obligations, and the
future operational and financial performance of the company generally.
2
3. Forward Looking Information
The foregoing list of assumptions is not exhaustive. Events or circumstances could cause actual results to differ materially. Factors that may cause
actual results to vary include, but are not limited to: adverse developments in business and economic conditions in the principal markets for Teck’s
products, in credit markets, or in the supply, demand, and prices for metals and other commodities to be produced, changes in interest and currency
exchange rates, inaccurate geological or metallurgical assumptions (including with respect to the size, grade and recoverability of mineral reserves and
resources), changes in taxation regimes, legal disputes or unanticipated outcomes of legal proceedings, unanticipated operational difficulties (including
failure of plant, equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and
equipment, government action or delays in the receipt of permits or government approvals, industrial disturbances or other job action, and unanticipated
events related to health, safety and environmental matters), political risk, social unrest, lack of available financing for Teck or its partners or co-venturers,
and changes in general economic conditions or conditions in the financial markets.
Certain of these risks are described in more detail in the annual information form of the company available at www.sedar.com and in public filings with the
SEC. The company does not assume the obligation to revise or update these forward-looking statements after the date of this document or to revise them
to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
3
8. 2011 Operation Highlights
Copper: Record production of 321,000
tonnes
Coal: Expanded proven and probable
reserves by 55% to 1 billion tonnes
Zinc: Record throughput of 3.7 million
tonnes at Red Dog
Energy: Total contingent resources
increased 67% to 3.5 billion barrels of
bitumen
8
9. Our Focus on Sustainability
• Community
• Water
• Energy
• Ecosystems and Biodiversity
• Materials Stewardship
• Our People
9
13. Continued Strong Demand for our
Products
China 5 year plan:
• Annual 7% GDP growth
• 36 million new low-income housing units
• 200,000 km increase in power
transmission lines
• 83,000 km of National Expressway
Network
Growing middle class:
• 3 billion increase from 2010 to 2030
13
14. ‘Stay the Course’ Strategy
Low-cost
Coal Incremental Growth
Brownfield
Copper Expansion
Building
Energy Resources
Converting Resources to Cash Flow
14
15. Project Developments
• Quintette Coal Mine
Feasibility study Q2 2012
• Quebrada Blanca Phase 2
Feasibility study Q1 2012
• Relincho Copper Mine
Feasibility study Q1 2013
• Frontier / Equinox Oil Sands Mine Projects
DBM complete and regulatory application filed Q4 2011
• Fort Hills Phase I
Engineering update 2012
15
19. 2005 – The First Health and Safety Conference
19
20. Evolution of Safety
Historic Approach “Good old days”: (accidents will happen)
Injury frequency rate
Era of Engineering: (eg. hand rails, limit
switches, machine guards, etc.)
Era of Legislation: procedures, laws
and regulations (eg. Mines Act)
Era of Behaviour
Based Safety: observations
How do we close this gap?
Time
20
21. Historical Focus
Cultural Technical
Approach Programs
We’ve primarily
focused on the
technical side
of safety
21
22. Historical Focus
Cultural Technical
Approach Programs
The Cultural We’ve primarily
side has been focused on the
more difficult technical side
to figure out of safety
22
23. Evolution of Safety
Era of Engineering: (eg. hand rails, limit
Injury frequency rate
switches, machine guards, etc.)
Era of Legislation: procedures, laws
and regulations (eg. Mines Act)
Era of Behaviour
Based Safety: observations
Era of Values Based
How do we close this gap? Safety: CSL, VFL, etc.
Time
23
24. Values and Beliefs Dictate Actions
Accidents
• We don’t report incidents
happen… • We don’t listen to each other
Production
over safety… • We take shortcuts
• We put ourselves at risk
Nobody
Listens…
“Good LTI
MA
old FA
days” Near Hits
At Risk Behaviour
24
25. New Values and New Beliefs
Lead to Different Actions
All serious • We report all incidents
injuries are
preventable…
• We listen to each other’s
My actions concerns
impact others… • We lead by example
I am • We manage our risks
responsible
for safety…
Values- Everyone Goes Home
based Safe and Healthy
Every Day
Safety
25
26. A New Focus at Teck
The Balanced Safety System
Achieving our
Cultural Technical
health and
Approach Programs We must have
effective
safety vision Management Standards and technical
requires Commitment Auditing Safety
Commitment
Courageous Programs
and Risk Assessment
Safety Leadership to support the
Leadership
overall safety
from every Visible Felt Training and
Leadership Procedures system
employee
Who and Why What and How
26
27. Courageous Safety Leadership
• Would create the catalyst for change in our organization
• Would engage employees in a values based approach to safety
• Would lay the foundation for a Culture of Safety in Teck and help
us achieve the vision…
Everyone Going Home
Safe and Healthy
Every Day
30. 2010 and 2011 Site Generated Monthly CSL Topics –
Engagement at Operational Level
Rebuilding Culture The Power of Choice Y.E.S. To Safety From Here to Home
Greenhills Operations Fording River Highland Valley Copper Red Dog Operations
At Work At Play Changing of the Guard In His Footsteps
Elkview Operations Trail Operations Duck Pond Operations
30
31. Courageous Safety Leadership III:
Next Steps
• In the Spring of 2011, we brought together 28 Courageous Safety
Leaders from all around Teck to design the next phase of CSL
• After several review sessions and many months of development we
created the Next Steps in our journey
31
32. Courageous Safety Leadership III:
Next Steps
• Held the Executive and GM session on March 14, 2012
• And starting in June, we will roll out CSL: Next Steps across Teck
32
33. Teck's Evolution of Safety
What began in 2005 with our first …has become a company wide
Health and Safety Conference… culture shift, recruiting over…
33
34. and here’s the value…
At Teck, more people are
Going Home Safe and Healthy Every Day
than ever before…
34
35. Thank You
Everyone Going Home
Safe and Healthy
Every Day
35
