Teck, Canada Growth Fund and Canada Critical Minerals Accelerator sign Agreement to Support Strategic Metals Production at Trail Smelter

About this update from Teck Resources Limited Class A

VANCOUVER, British Columbia, July 07, 2026 (GLOBE NEWSWIRE) -- Today, Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck"), Canada Growth Fund Inc. ("CGF"), and Natural Resources Canada ("NRCan")'s Canada Critical Minerals Accelerator announced that they have signed a Strategic Investment Agreement (the "Agreement") to support expanding production capacity for germanium, gallium, and antimony at Teck's Trail Operations smelting and refining complex in British Columbia ("Trail"). Trail is one of the world's largest fully integrated polymetallic smelting and refining complexes. It produces nineteen products and has a long history of critical minerals production. The Agreement establishes the commercial framework for an equity-like investment by CGF of up to $400 million directly into the facility, as part of an up to $850 million-dollar potential total investment by Teck to sustain and enhance critical minerals processing capacity at Trail Operations from a portfolio of feed sources. The Agreement also provides for the establishment of an offtake structure with the Government of Canada, including offtake rights for a portion of future germanium, antimony and gallium produced by Trail, that will build on Canada's position as a reliable critical minerals supplier to global partners. The Agreement reflects the intent of both parties to work towards an investment by CGF to unlock the advancement of Trail's Strategic Metals Initiative, that could double Trail's existing production capacity for germanium and antimony, and potentially add new gallium production capacity. The arrangements between Teck and the Government of Canada would also constitute the inaugural transaction under Canada's newly launched Canada Critical Minerals Accelerator, which is an initiative of NRCan, managed by Export Development Canada ("EDC"). Germanium, antimony, and gallium are essential inputs for a range of advanced technologies and national security applications. Germanium is widely used in fibre optic systems, infrared optics, and semiconductor technologies; antimony is critical for flame retardants, batteries, and alloys; and gallium is a key material in high-performance semiconductors used in telecommunications, radar systems, and next-generation electronics. Expanding reliable supply of these materials is key to Canada's economic and national security, as well as...

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