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Company > Teck Resources: Business Model, SWOT Analysis, and Competitors 2023

Teck Resources: Business Model, SWOT Analysis, and Competitors 2023

Published: Mar 30, 2023

Inside This Article


    In this blog article, we will delve into Teck Resources and explore its business model, conduct a SWOT analysis, and analyze its competitors in 2023. Teck Resources is a renowned Canadian mining company that focuses on producing essential resources such as coal, copper, zinc, and oil. By examining its business model, we will gain insights into how Teck Resources operates and generates revenue. Additionally, a SWOT analysis will provide a comprehensive understanding of the company's strengths, weaknesses, opportunities, and threats. Finally, we will assess Teck Resources' position in the market by analyzing its key competitors.

    What You Will Learn:

    • Who owns Teck Resources and what is the significance of their ownership in the company's operations and decision-making processes.
    • The mission statement of Teck Resources and how it guides the company's strategic goals and initiatives.
    • How Teck Resources generates revenue and profits through its various business activities, including an overview of its key revenue streams.
    • An explanation of the Teck Resources Business Model Canvas, highlighting the key components and how they contribute to the company's overall success.
    • An overview of the main competitors of Teck Resources and an analysis of their strengths, weaknesses, opportunities, and threats in comparison to Teck Resources.
    • A comprehensive SWOT analysis of Teck Resources, examining the company's internal strengths and weaknesses, as well as external opportunities and threats that may impact its performance and market position.

    Who owns Teck Resources?

    Overview of Teck Resources

    Teck Resources is a leading Canadian mining company that operates in various sectors, including copper, zinc, coal, and oil sands. With its headquarters located in Vancouver, British Columbia, Teck Resources has a strong presence in Canada and worldwide.

    Major Shareholders of Teck Resources

    Teck Resources is a publicly traded company, which means its ownership is distributed among numerous shareholders. The largest shareholders of Teck Resources include institutional investors and individual investors.

    One of the significant institutional shareholders is the Canada Pension Plan Investment Board (CPPIB), which manages the investment funds of the Canadian Pension Plan. CPPIB holds a substantial stake in Teck Resources, highlighting the company's importance as a strategic investment for Canada's pension fund.

    Other institutional shareholders include major banks, insurance companies, and investment management firms. These institutions often invest in Teck Resources due to its strong growth potential and the company's robust financial performance.

    Individual Shareholders

    Apart from institutional investors, Teck Resources also has individual shareholders who hold shares in the company. These individual investors can range from retail investors to company employees who receive stock options or purchase shares as part of their compensation packages.

    Founders and Management Team

    The founders of Teck Resources, Norman B. Keevil and his family, have played a significant role in the company's success. Keevil, who served as the CEO of Teck Resources for several years, was instrumental in shaping the company's growth and diversification.

    Currently, Teck Resources is managed by a team of experienced executives who oversee the company's operations and strategic decisions. This management team includes professionals with extensive industry knowledge and expertise, ensuring the company's continued success.


    Teck Resources is primarily owned by a diverse group of institutional and individual shareholders. The company's ownership structure reflects its appeal to both major investors and individual shareholders who recognize its growth potential and financial stability. With a strong management team and a history of successful leadership, Teck Resources continues to be a prominent player in the mining industry.

    What is the mission statement of Teck Resources?

    Teck Resources' Mission Statement: Empowering a Sustainable Future

    Teck Resources, one of the leading diversified mining companies in the world, has a clear and powerful mission statement that guides its operations and strategic decisions. The mission statement of Teck Resources is centered around empowering a sustainable future.

    As an organization, Teck Resources aims to responsibly produce the resources that society needs to thrive while minimizing its environmental impact. Their commitment is not limited to economic success but also extends to social and environmental stewardship. Teck Resources recognizes the importance of balancing these three pillars of sustainability – economic, social, and environmental – in order to create long-term value for its stakeholders.

    Economic Sustainability:

    Teck Resources is dedicated to generating economic value through efficient and responsible resource extraction. By maximizing the value of their products and delivering them to global markets, Teck Resources contributes to the economic growth and prosperity of the communities where they operate. They aim to create lasting benefits for their employees, shareholders, and the broader societies they serve.

    Social Responsibility:

    Teck Resources believes in fostering strong relationships with the communities in which it operates. They prioritize the well-being and safety of their employees, as well as the development and engagement of local communities. By providing employment opportunities, supporting local businesses, and investing in community programs, Teck Resources actively contributes to the overall social development of the regions they operate in.

    Environmental Stewardship:

    At the core of Teck Resources' mission is the commitment to environmental stewardship. The company recognizes the importance of minimizing its environmental footprint and constantly strives to improve its practices. Teck Resources invests in innovation and technology to reduce greenhouse gas emissions, conserve water resources, and reclaim land disturbed by mining activities. By implementing responsible mining practices and adhering to strict environmental standards, Teck Resources ensures that they leave a positive and lasting environmental legacy.

    In conclusion, Teck Resources' mission statement emphasizes their dedication to empowering a sustainable future. By focusing on economic sustainability, social responsibility, and environmental stewardship, Teck Resources aims to create long-term value while leaving a positive impact on the communities and environment in which they operate.

    How does Teck Resources make money?

    Mining Operations

    One of the primary ways Teck Resources generates revenue is through its extensive mining operations. As a diversified resource company, Teck extracts a wide range of minerals and metals from its mines, including copper, zinc, coal, and gold. These minerals are essential in various industries such as construction, electronics, and energy production.

    Teck operates several large-scale mines across North and South America, including the world-class Highland Valley Copper Mine in British Columbia, Canada, and the Quebrada Blanca copper mine in Chile. The company's mining operations are known for their efficiency and high-quality production, allowing Teck to sell its products at competitive prices in global markets.

    Commodity Pricing and Trading

    Another important source of revenue for Teck Resources is commodity pricing and trading. The company actively monitors and participates in global commodity markets to benefit from price fluctuations. Teck leverages its market expertise and strategic partnerships to maximize the value of its products.

    By closely analyzing market trends and supply-demand dynamics, Teck can optimize its selling prices and negotiate favorable contracts with buyers. Additionally, the company engages in commodity trading activities, which involve buying and selling mineral and metal products on financial markets. This allows Teck to capitalize on short-term price movements and generate additional income.

    Energy Production

    Teck Resources has also ventured into the energy production sector, specifically in the development of renewable energy projects. The company has invested in various initiatives, such as solar and wind power, to diversify its revenue streams and align with global efforts to transition to cleaner energy sources.

    Through its energy production endeavors, Teck not only generates electricity for its own operations but also has the potential to sell excess power to the grid. This not only contributes to the company's financial stability but also promotes sustainable practices within the industry.

    Other Revenue Streams

    Apart from its core mining, commodity trading, and energy production activities, Teck Resources also derives income from other sources. These include royalties and investments in other companies within the resource sector. Teck holds royalties on certain properties, allowing the company to earn a share of the revenue generated from their mineral production.

    Furthermore, Teck selectively invests in strategic partnerships and joint ventures with other mining companies. These investments not only provide potential financial returns but also enable Teck to leverage its industry knowledge and expand its market presence.

    In conclusion, Teck Resources generates revenue through its mining operations, commodity pricing and trading, energy production, royalties, and strategic investments. This diversified approach allows the company to adapt to market conditions, capitalize on opportunities, and maintain a strong financial position in the resource industry.

    Teck Resources Business Model Canvas Explained

    Introduction to Teck Resources

    Teck Resources is a Canadian diversified resource company that engages in the exploration, development, and production of various commodities, including copper, zinc, steelmaking coal, and energy. With operations and projects located across the Americas, Asia Pacific, and Europe, Teck Resources has established itself as a prominent player in the global mining and energy sectors.

    What is a Business Model Canvas?

    A Business Model Canvas is a strategic management tool that provides a comprehensive and visual representation of a company's business model. It consists of nine key building blocks that help define and analyze different aspects of a business. These blocks include Customer Segments, Value Proposition, Channels, Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partnerships, and Cost Structure.

    Teck Resources' Business Model Canvas

    Customer Segments

    Teck Resources primarily serves customers in industries such as construction, automotive, electronics, and renewable energy. The company's customer base includes manufacturers, traders, and end-users who require commodities like copper, zinc, and coal for their operations.

    Value Proposition

    Teck Resources offers a unique value proposition to its customers by providing a reliable and sustainable supply of essential commodities. The company's extensive portfolio of mining assets, coupled with its commitment to responsible resource development, ensures a secure and ethical source of raw materials for its customers.


    Teck Resources utilizes various channels to distribute its products to customers. These channels include direct sales to end-users, partnerships with trading companies and distributors, and participation in commodity exchanges. The company also leverages digital platforms and online resources to enhance customer engagement and market its products effectively.

    Customer Relationships

    Building strong customer relationships is crucial for Teck Resources. The company focuses on understanding its customers' needs and providing tailored solutions to meet their requirements. Regular communication, efficient order processing, and reliable after-sales support contribute to long-term partnerships with customers.

    Revenue Streams

    Teck Resources generates revenue through the sale of its commodities, which are priced based on market demand and supply dynamics. The company's diversified portfolio helps mitigate risks associated with fluctuations in commodity prices, ensuring a stable and sustainable revenue stream.

    Key Resources

    Teck Resources' key resources include its extensive mineral reserves, mining operations, processing facilities, transportation infrastructure, and a skilled workforce. These resources enable the company to extract, process, and deliver commodities efficiently and sustainably.

    Key Activities

    Teck Resources engages in various key activities to support its business model. This includes exploration and development of mineral reserves, mining operations, processing and refining of commodities, logistics and transportation management, marketing and sales, and ongoing research and development for sustainable resource practices.

    Key Partnerships

    Teck Resources understands the importance of strategic partnerships to enhance its business model. The company collaborates with suppliers, contractors, technology providers, and local communities to ensure the smooth operation of its mining projects and minimize environmental impacts. Additionally, Teck Resources actively engages with government agencies, industry associations, and non-profit organizations to promote responsible resource development.

    Cost Structure

    Teck Resources incurs costs across various aspects of its business model. These costs include exploration and development expenses, mining and processing costs, logistics and transportation costs, marketing and sales expenses, employee salaries and benefits, and environmental and regulatory compliance costs. The company continually focuses on cost optimization to maintain competitiveness in the market.


    Teck Resources' Business Model Canvas provides a comprehensive overview of the company's strategic approach to the mining and energy sectors. By examining the key building blocks of its business model, it becomes evident that Teck Resources emphasizes customer-centricity, sustainability, and responsible resource development. Through strong customer relationships, diverse revenue streams, and strategic partnerships, the company continues to thrive in a highly competitive industry.

    Which companies are the competitors of Teck Resources?

    Major Competitors

    Teck Resources operates in the mining and mineral exploration industry, where it faces competition from several major players. The following companies are considered significant competitors of Teck Resources:

    1. BHP Group: BHP Group is a global resources company involved in the exploration, production, and marketing of minerals, including coal, copper, iron ore, and petroleum. With a diversified portfolio and extensive operations worldwide, BHP Group competes with Teck Resources in various market segments.

    2. Rio Tinto: Rio Tinto is a multinational metals and mining corporation that operates in several regions, including Australia, North America, and Africa. Rio Tinto is known for its significant presence in the aluminum, copper, diamonds, and iron ore markets, making it a formidable competitor to Teck Resources.

    3. Anglo American: Anglo American is a globally diversified mining company that operates across various commodities, including diamonds, platinum, copper, and iron ore. With a strong focus on sustainability and innovation, Anglo American competes with Teck Resources in their shared markets.

    4. Glencore: Glencore is one of the world's largest diversified natural resource companies, involved in the production and trading of commodities like copper, zinc, nickel, and coal. Its global reach and extensive commodity portfolio position it as a strong competitor to Teck Resources.

    Other Competitors

    Apart from the major players mentioned above, Teck Resources also faces competition from other companies operating in specific segments of the mining industry. These include:

    1. Freeport-McMoRan: Freeport-McMoRan is a leading international mining company primarily engaged in copper production. With mines in North and South America, it competes directly with Teck Resources in the copper market.

    2. First Quantum Minerals: First Quantum Minerals is a Canadian-based mining company involved in the exploration, development, and production of copper, nickel, gold, and zinc. Its operations overlap with Teck Resources in the copper and zinc markets, making it a notable competitor.

    3. Lundin Mining: Lundin Mining is a diversified base metals mining company with operations primarily in Chile, the United States, and Sweden. It focuses on copper, zinc, and nickel production, putting it in direct competition with Teck Resources.

    4. Southern Copper Corporation: Southern Copper Corporation is a mining company that primarily explores, develops, and produces copper, molybdenum, zinc, and silver. With operations in Peru, Mexico, and Chile, it competes with Teck Resources in the copper market.

    These are just a few examples of the companies that compete with Teck Resources in the mining and mineral exploration industry. The level of competition varies depending on the specific market segment and geographical location, but these competitors highlight the dynamic nature of the industry.

    Teck Resources SWOT Analysis


    • Diversified portfolio: One of Teck Resources' key strengths is its diversified portfolio of commodities. The company is involved in the production of coal, copper, zinc, and other metals, which helps to mitigate risks associated with fluctuations in commodity prices.

    • Strong financial performance: Teck Resources has consistently delivered strong financial performance, with a track record of generating robust revenues and profits. This financial stability allows the company to invest in growth opportunities and withstand market downturns.

    • Strong market position: Teck Resources is one of the largest mining companies in Canada and has a strong market position in the global mining industry. Its extensive operations and established customer base provide a competitive advantage in securing long-term contracts and maintaining stable revenues.


    • Dependency on coal: A significant weakness for Teck Resources is its heavy reliance on coal production. The company's coal business accounts for a substantial portion of its revenues, making it vulnerable to regulatory changes, environmental concerns, and shifts in energy trends towards cleaner alternatives.

    • Geographical concentration: Teck Resources operates primarily in Canada and the Americas, which exposes the company to regional risks and uncertainties. A lack of geographical diversification makes the company susceptible to changes in local regulations, political instability, and economic downturns in those regions.

    • High capital expenditures: The nature of the mining industry requires substantial capital expenditures to develop and maintain mining operations. Teck Resources faces the challenge of managing high capital costs associated with expanding existing mines, developing new projects, and complying with environmental regulations.


    • Growth in renewable energy: The increasing global focus on renewable energy presents an opportunity for Teck Resources to diversify its operations and reduce its dependence on coal. The company can explore investments in renewable energy sources such as solar, wind, and hydroelectric power, leveraging its expertise in the energy sector.

    • Infrastructure development: Teck Resources can benefit from infrastructure development projects, particularly in emerging markets. As governments invest in building or upgrading infrastructure, the demand for commodities like copper, steel, and zinc will rise, providing growth opportunities for the company.

    • Technological advancements: Embracing technological advancements in mining can enhance operational efficiency, reduce costs, and improve safety measures. Teck Resources can invest in innovative mining technologies, automation, and digital solutions to gain a competitive edge and optimize its operations.


    • Environmental regulations: Teck Resources operates in an industry with increasing scrutiny on environmental impacts. Stricter regulations and policies to reduce carbon emissions and promote sustainable practices pose a threat to the company's operations, particularly in its coal business.

    • Competitive landscape: The mining industry is highly competitive, with numerous global players vying for market share. Teck Resources faces competition from both established mining companies and new entrants, which could impact its ability to secure contracts and maintain market position.

    • Economic volatility: Teck Resources is exposed to economic fluctuations, as its business is closely tied to global economic conditions. A downturn in the global economy, currency fluctuations, or trade disputes can negatively impact demand, prices, and profitability of the company's commodities.

    Key Takeaways

    • Teck Resources is a publicly traded Canadian mining company, with its majority owner being the Keevil family.

    • The mission statement of Teck Resources is to be a leader in creating value for all stakeholders through responsible mining and mineral development.

    • Teck Resources makes money primarily through the extraction and sale of coal, copper, zinc, and other minerals, as well as through energy production.

    • Teck Resources' business model canvas includes key elements such as key resources, key activities, value proposition, customer segments, channels, and revenue streams.

    • Some of the competitors of Teck Resources include BHP Group, Rio Tinto, Vale, and Glencore.

    • In a SWOT analysis, Teck Resources' strengths may include its diverse portfolio of mineral resources and its strong financial performance. Weaknesses may include its dependence on commodity prices and potential environmental concerns. Opportunities may lie in expanding into new markets or investing in sustainable practices. Threats may include market volatility and increasing regulatory pressures.


    In conclusion, Teck Resources is a Canadian mining and energy company that has established itself as a leader in the industry. As for ownership, Teck Resources is a publicly traded company, meaning it is owned by shareholders who hold its common shares.

    The mission statement of Teck Resources is to responsibly provide products that are essential to building a better quality of life for people around the world. This mission drives their commitment to sustainability, responsible resource development, and community engagement.

    Teck Resources primarily makes money through the extraction and sale of natural resources, including coal, copper, zinc, and oil. They operate mines and processing facilities across North and South America, and they also have interests in energy assets, such as oil sands and renewable energy projects.

    To better understand Teck Resources' business model, the Business Model Canvas provides a comprehensive framework. It highlights key aspects such as value proposition, customer segments, channels, revenue streams, and cost structure. By analyzing these elements, it becomes evident how Teck Resources creates value and sustains its operations.

    In terms of competition, Teck Resources faces competition from other mining and energy companies in the industry. Some of its main competitors include BHP Billiton, Rio Tinto, and Vale. These companies operate globally and also have diverse portfolios of mining and energy assets.

    Lastly, conducting a SWOT analysis of Teck Resources reveals its strengths, weaknesses, opportunities, and threats. The company's strengths lie in its diversified resource portfolio, strong market position, and commitment to sustainability. However, weaknesses such as exposure to commodity price volatility and environmental concerns pose challenges. As for opportunities, Teck Resources can explore renewable energy projects and expand its presence in emerging markets. Meanwhile, threats include geopolitical risks, regulatory changes, and market fluctuations.

    Overall, Teck Resources is a company that strives to meet the demands of a growing global population while maintaining a sustainable approach to resource development. With its strong mission, diverse portfolio, and commitment to innovation, Teck Resources is well-positioned to navigate the challenges and capitalize on the opportunities that lie ahead in the mining and energy industry.


    What are the resources for SWOT analysis?

    There are various resources available for conducting a SWOT analysis. Some of the common resources include:

    1. Internal data: This includes analyzing the organization's strengths and weaknesses by reviewing internal documents such as financial statements, sales reports, customer feedback, employee surveys, and performance evaluations.

    2. External data: To identify opportunities and threats, external sources such as market research reports, industry analysis, competitor analysis, customer surveys, and industry trends can be valuable resources. Government reports, economic indicators, and demographic data can also provide useful insights.

    3. Stakeholder input: Gathering input from stakeholders such as employees, customers, suppliers, and shareholders can provide valuable perspectives on the organization's strengths, weaknesses, opportunities, and threats.

    4. Industry experts: Seeking guidance from industry experts, consultants, or professionals who have expertise in the specific industry or market can offer valuable insights and recommendations for the SWOT analysis.

    5. Online databases and publications: Accessing online databases, industry-specific websites, academic journals, and business publications can provide relevant data and information for conducting a comprehensive SWOT analysis.

    6. SWOT analysis templates and software: There are numerous templates and software available that can help structure and guide the SWOT analysis process. These resources provide frameworks and tools to organize and analyze the collected data.

    It is important to use a combination of these resources to ensure a comprehensive and accurate SWOT analysis. Additionally, regular updates and reassessment of the analysis should be conducted to reflect changes in the internal and external environment.

    How can I find a SWOT analysis on a company?

    There are several ways to find a SWOT analysis on a company. Here are some methods you can use:

    1. Company's official website: Start by visiting the company's official website. Many companies include a section about their strengths, weaknesses, opportunities, and threats. Look for sections like "About Us," "Our Story," or "Investor Relations" that might contain this information.

    2. Annual reports and financial statements: Companies often include a SWOT analysis or discuss their strengths, weaknesses, opportunities, and threats in their annual reports. These reports can usually be found on the company's website under the "Investor Relations" or "Financials" section.

    3. Business news websites: Websites like Bloomberg, Forbes, or CNBC often publish articles or analysis on company performances, including SWOT analysis. You can search for the company name along with "SWOT analysis" on these platforms to find relevant articles.

    4. Business databases: Subscription-based databases such as Hoovers, Thomson Reuters, or MarketLine offer comprehensive reports and analysis on various companies, including SWOT analysis. These databases may require a subscription or a fee to access the information.

    5. Academic research platforms: JSTOR, Google Scholar, or other academic research platforms can provide access to scholarly articles and research papers that may include SWOT analysis on specific companies. These platforms might require a subscription or access through an educational institution.

    6. Industry reports: Industry-specific reports or market research reports often include SWOT analysis on major companies within the industry. You can search for industry reports from market research firms like IBISWorld, Statista, or Euromonitor to find relevant information.

    Remember that SWOT analyses can vary depending on the source, so it's a good idea to consult multiple sources to get a comprehensive understanding of a company's strengths, weaknesses, opportunities, and threats.

    What is technical SWOT analysis?

    Technical SWOT analysis is a method used to assess the strengths, weaknesses, opportunities, and threats of a technical system, process, or product. It focuses on evaluating the technical aspects of a business or organization, analyzing the internal and external factors that impact its technical capabilities.

    The strengths and weaknesses of the technical system are identified by examining its internal factors, such as technological expertise, infrastructure, software, hardware, and technical skills of the workforce. This analysis helps to identify areas where the system excels and areas that need improvement.

    The opportunities and threats are determined by evaluating the external factors that may affect the technical system. This includes factors like market trends, competition, technological advancements, regulatory changes, and customer preferences. Identifying opportunities allows organizations to exploit new technologies or market conditions, while recognizing threats helps them mitigate risks and prepare for potential challenges.

    The purpose of technical SWOT analysis is to provide a comprehensive understanding of the technical landscape in which a business operates. It helps organizations develop strategies to leverage their technical strengths, address weaknesses, capitalize on opportunities, and mitigate threats. By identifying areas of improvement and potential risks, organizations can make informed decisions regarding technology investments, resource allocation, and future planning.

    How do you gather resources for SWOT analysis?

    There are several ways to gather resources for a SWOT analysis:

    1. Internal data: Start by examining internal resources such as financial statements, sales reports, marketing data, customer feedback, and employee surveys. These sources can provide valuable insights into the strengths and weaknesses of your organization.

    2. External data: Look for external sources of information such as industry reports, market research, competitor analysis, and customer reviews. These sources can help identify opportunities and threats that your organization may face.

    3. Stakeholder interviews: Conduct interviews with key stakeholders such as employees, customers, suppliers, and partners. Their perspectives can provide additional insights into the strengths, weaknesses, opportunities, and threats relevant to your organization.

    4. Online research: Utilize online resources such as industry websites, news articles, blogs, and social media to gather information about your industry, competitors, and market trends. These sources can help identify external factors that may impact your organization.

    5. SWOT analysis templates: Use pre-designed SWOT analysis templates or software tools that can guide you through the process and prompt you to consider various aspects of your organization's internal and external environment.

    Remember, it is essential to gather a diverse range of resources to ensure a comprehensive and accurate SWOT analysis.

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