If we are waiting for Keevil's response, then this is from his Letter in the Annual Report that was put on SEDAR March 25th:
At the same time, it is more difficult than ever to build new mines, exacerbated by interminable permitting delays and increasing capital costs.
It is a time of change, as always, and this company has been built by recognizing and embracing change.
Teck has grown into the largest diversified mining company in Canada, surpassing or surviving a number of older mining companies which at one time were much stronger or larger. It has done this by emphasizing the three things we believe are key to any successful mining company: the continuous need to sustain and augment our ore reserves; the need to maintain a solid financial position to enable us to withstand economic vicissitudes and to expand those operating assets when appropriate; and the importance of developing strong engineering and support teams that are able to build and operate efficiently and sustainably. Long-life reserves and diversity have been objectives for us ever since the new Teck began with limited mine life in the 1970s. This continues to be a company focus, and the importance of financial strength has never been clearer than it is today.
