Teck inks agreement with Oldendorff Carriers to reduce supply chain CO?,, emissions

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(Kitco News) - Teck Resources and OldendorffCarriers today announced an agreement to employ energy efficient bulk carriersfor shipments of Teck steelmaking coal from the Port of Vancouver tointernational destinations, reducing CO2 emissions in the steelmaking coalsupply chain.

According to a press-release,this industry-leading initiative is expected to achieve a CO2 emissionsreduction of 30 - 40% for shipments handled by Oldendorff. The estimatedsavings can be of up to 45,000 tonnes of CO2 per year, equivalent to removingnearly 10,000 passenger vehicles from the road.

Teck said that Oldendorff'sfleet of approximately 700 bulk carriers from Handy size to Cape size givesTeck shipping flexibility and reduced carbon intensity on each voyage. The CO2reductions represent Scope 1 emissions for Oldendorff and Scope 3 emissions forTeck.

Teck pointed out it has goalsto reduce carbon intensity across operations by 33% by 2030 and be acarbon-neutral operator by 2050.

"Partnering with Oldendorffto reduce the emissions associated with transportation of our steelmaking coalis one of the ways Teck is reducing our carbon footprint and taking action onclimate change," said Don Lindsay, President and CEO, Teck. "As part of ourclimate strategy, we are committed to working with transportation providers toreduce emissions downstream of our business."

Oldendorff Carriers is a100-year-old family owned shipping company operating a fleet of about 700 bulkcarriers. The company is represented by 20 offices around the world with 10bulk Transshipment projects and has a workforce over 4,500 people from 60countries.

Teck is one of Canada'sleading mining companies, with its major business units focused on copper,zinc, and steelmaking coal, as well as investments in energy assets.Headquartered in Vancouver, Canada, Teck's shares are listed on the TorontoStock Exchange under the symbols TECK.A and TECK.B and the New York StockExchange under the symbol TECK.

By Vladimir Basov

For Kitco News

Follow kitconewsnow vbasov@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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