Teck Resources shakes up governance to support critical minerals focus

Teck Resources has changed its corporate structure and appointed a Chief Sustainability Officer in a move to position itself as a pure-play energy transition mining company.

The Vancouver-based miner promoted Charlene Ripley, its current SVP and General Counsel, to the role of EVP and Chief Legal and Sustainability Officer, as part of a restructuring of its corporate governance.

Ripley is now responsible for Teck’s sustainability performance, as well as supporting its legal, risk and compliance functions. She replaces Jeff Hanman at the helm of the sustainability team: the former SVP of Sustainability and External Affairs has been appointed EVP and Chief Strategy Officer.

Other moves include the appointment of Shehzad Bharmal, currently SVP, Base Metals, as EVP and Chief Operating Officer, and of Dean Winsor, currently SVP and Chief Human Resources Officer, as EVP and Chief People Officer.

Teck Resources transitions towards critical minerals

The Canadian company, which reported annual revenue of US$15 billion in 2023, has been shifting its business model to focus primarily on producing the minerals necessary for the energy transition.

With this goal in mind, at the end of 2023, Teck Resources sold its entire interest in steelmaking coal business Elk Valley Resources to a joint venture between Glencore and Nippon Steel Corporation. The firm had previously stated that Scope 3 emissions from the use of coal sold amounted to 70 million tonnes of CO2 equivalent.

The sale, which was expected to be closed by the third quarter of 2024, was described by CEO Jonathan Price as “a catalyst to refocus Teck as a Canadian-based critical minerals champion with an extensive portfolio of copper growth projects”.

Now, the new corporate structure is set to position the company to “operate safely, efficiently and responsibly” while capitalising on the growth opportunities presented by the energy transition, particularly the rising demand for copper. 

“This change simplifies our business with a streamlined executive leadership team and regional structure to support our strategy focused on growth in copper, balanced with shareholder returns and the long-term resiliency of our business,” said Price.