Teck and Ocean Regenerative Collaborate to Use Seaweed to Grow Trees
VANCOUVER, Oct. 31, 2022 - Teck Resources Ltd. (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") and Ocean Regenerative Aquaculture, Inc. ("ORA") today announced a joint research project to study how seaweed can be used to enhance forest health and accelerate tree growth. The project, which supports Teck's goal to become a nature positive company by 2030, will test the efficacy of using seaweed to enhance the health of tree species that are native to areas where Teck is rehabilitating former mining areas. The project will also assess how seaweed can increase the ability of forests to capture and store carbon.
"This unique research project supports Teck's efforts to become nature positive and contribute to tackling the global challenges of nature loss and climate change," said Jonathan Price, CEO, Teck. "We're looking forward to working with Ocean Regenerative to advance this innovative initiative using seaweed to accelerate reclamation and carbon sequestration."
Ocean Regenerative will lead research on applications of seaweed-derived extracts to improve the growth and durability of a range of tree species intended for reforestation as part of the rehabilitation of mined land at Teck's operations. The project will also seek to demonstrate the potential for enhanced carbon capture and sequestration during terrestrial forest growth.
"Teck and Ocean Regenerative are working with nature to create the opportunity for marine and land-based forests to thrive through innovative, human-assisted symbiosis," said David Parker, CEO, Ocean Regenerative. "This project will demonstrate that ecosystem regeneration can be achieved and scaled to create healthier, faster growing terrestrial forests that result in enhanced long-term carbon sequestration through a nature positive solution."
With over 200,000 kilometres of marine coastline and over 3.5 million square kilometers of forests, Canada is uniquely positioned to develop the expertise and share knowledge that will contribute to nature positive solutions at scale. The Teck - ORA partnership will support research in reforestation at Teck mine sites aimed to enable improved resilience and carbon capture and sequestration.
For Teck, working to become nature positive means that by 2030, Teck's conservation, protection and restoration of land and biodiversity will exceed the disturbance caused by its mining activities from a 2020 baseline. In doing so, Teck will conserve or rehabilitate at least three hectares for every one hectare affected by its mining activities. Learn more about Teck's commitment to becoming Nature Positive: click here
Media downloads: Teck reclamation images
Forward Looking Statements
This news release contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words "will", "intend", "expect", and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this news release.
These forward-looking statements include, but are not limited to, statements relating to: the efficacy of seaweed-derived extracts in improving the health, growth and durability of tree species; our goal to become a nature positive company by 2030 and the actions we intend to take to achieve this goal, including our commitments to conserve or rehabilitate at least three hectares for every one hectare affected by mining activities; and our net-zero climate strategy. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Such statements are based on a number of estimates, projections, beliefs and assumptions which are inherently uncertain and difficult to predict and may prove to be incorrect, including but not limited to expectations and assumptions concerning: the availability of land or other opportunities for conservation, rehabilitation, or capacity building in appropriate locations on commercially reasonable terms and the ability to obtain any required external approvals or consensus for such opportunities; our ability to successfully implement our technology and innovation strategy; the performance of new technologies in accordance with our expectations; our ability to achieve our nature positive and biodiversity goals and our climate strategy and the longer term impacts of those goals and strategies on our business; environmental compliance costs generally; and assumptions regarding the development of our business generally and general economic conditions. Factors that may cause actual results to vary include, but are not limited to, actual biodiversity and climate change consequences; unavailability of land or other opportunities for conservation, rehabilitation or capacity building on commercially reasonable terms or inability to obtain any required external approvals or consensus for such opportunities; changes in laws and governmental regulations or enforcement thereof that impact our operations, goals or strategy and changes in commodity price, costs or general economic conditions.
We caution you that the foregoing list of important factors and assumptions is not exhaustive. Other events or circumstances could cause our actual results to differ materially from those estimated or projected and expressed in, or implied by, our forward-looking statements. Inherent in forward-looking statements are risks and uncertainties beyond our ability to predict or control. Further information concerning risks, assumptions and uncertainties associated with these forward-looking statements and our business can be found in our most recent Annual Information Form filed under our profile on SEDAR (www.sedar.com) and on EDGAR (www.sec.gov) under cover of Form 40-F, as well as subsequent filings that can also be found under our profile. We assume no obligation to update forward-looking statements except as required under securities laws.
About Teck
As one of Canada's leading mining companies, Teck is committed to responsible mining and mineral development with major business units focused on copper, zinc, and steelmaking coal. Copper, zinc and high-quality steelmaking coal are required for the transition to a low-carbon world. Headquartered in Vancouver, Canada, Teck's shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.
About Ocean Regenerative Aquaculture:
Ocean Regenerative has considerable expertise in the research and development of seaweed amendment product applications in reforestation and quantifying carbon capture and sequestration. Ocean Regenerative works with Indigenous Peoples, research institutions, and conservation organizations in Canada to advance sustainable harvesting, cultivation and regeneration of sea forests of Macrocystis pyrifera, commonly known as giant kelp - the fastest growing (up to 60cm/day) and largest (up to 60 metres in length) of kelp species - in places where it has historically grown in nature. Because of its exceptional growth rate, giant kelp can capture significant quantities of carbon quickly. Various types of extracts of seaweeds contain nutrients and unique compounds that when refined and applied enable improved plant growth and resistance to biotic and abiotic stresses, while simultaneously promoting positive enhancements of soil microbiota, thereby adding to soil regeneration, improved plant growth and carbon sequestration.
Teck Media Contact:
Chris Stannell
Public Relations Manager
604.699.4368
chris.stannell@teck.com
Teck Investor Contact:
Fraser Phillips
Senior Vice President, Investor Relations and Strategic Analysis
604.699.4621
fraser.phillips@teck.com
Ocean Regenerative Media Contact:
David Parker
President & CEO
604.649.4149
davidparker@oceanregenerative.com