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Teck releases annual economic contribution report

The mining company detailed their economic contributions for 2021
Teck file photo.

Teck has released their annual economic contribution report and included highlights for Canada in 2021.

A Dec. 20 press release said they released the report that day, which outlined how Teck “generated $20.1 billion in total economic contribution to global GDP; created or sustained over 214,000 jobs; made payments of $10.4 billion to suppliers; and contributed $5.1 billion in taxes and government revenues to governments across the world at direct, indirect and induced levels.”

The release includes economic highlights for 2021 from each country where they operate, including Canada, the U.S., Chile, and Peru.

The highlights for Canada say that “Teck’s operations contributed $10.9 billion to Canada’s GDP, which included $3.7 billion in labour income; payments of $4.7 billion to Canadian suppliers; and approximately 65,360 jobs were created or sustained.”

Jonathan Price, CEO, is quoted in the release saying “Our people are proud to contribute to the communities and jurisdictions where we operate through creation of family-supporting jobs, economic activity, and revenue to governments to support essential services like education and healthcare.”

“These economic contributions are directly linked with our work to responsibly provide critical minerals essential to modern society and for the global transition to a low-carbon economy.”

The economic contribution report was prepared by Deloitte. The full report can be found at Teck’s website.

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