Following closing of the transaction, Teck holds a 60% indirect interest in QBSA and Empresa Nacional de Minería continues to hold a 10% carried interest. SMM and SC are expected to contribute approximately US$1.3 billion to the QB2 project during 2019.
Teck’s anticipated share of 2019 QB2 capital spending is approximately US$175 million, which has been expended in the first quarter. Assuming closing during 2019 under the US$2.5 billion project financing facility expected to be signed in the second quarter, further cash contributions from Teck to QB2 capital costs are not expected to be required until late 2020.
