SEC Form 40-F filed by Teck Resources Ltd

2/20/25 3:46:54 PM ET

Mining & Quarrying of Nonmetallic Minerals (No Fuels)

Industrials

Get the next $TECK alert in real time by email

teck-20241231

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________________________________

FORM 40-F

____________________________________________


☐			Registration statement pursuant to section 12 of the Securities Exchange Act of 1934


☒			Annual report pursuant to section 13(a) or 15(d) of the Securities Exchange Act of 1934

For the fiscal year ended December 31, 2024 Commission File Number 001-13184

____________________________________________

TECK RESOURCES LIMITED

(Exact name of Registrant as specified in its charter)

____________________________________________

(Translation of Registrant’s name into English (if applicable))

Canada

(Province or other jurisdiction of incorporation or organization)

1400

(Primary Standard Industrial Classification Code Number (if applicable))

NOT APPLICABLE

(I.R.S. Employer Identification Number (if applicable))

Suite 3300 – 550 Burrard Street, Vancouver, British Columbia, V6C 0B3 Canada

(604) 699-4000

(Address and telephone number of Registrant’s principal executive offices)

CT Corporation System, 28 Liberty St., New York, New York, 10005 (212) 894-8940

(Name, address (including zip code) and telephone number (including area code)

of agent for service in the United States)

Securities registered or to be registered pursuant to Section 12(b) of the Act.


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class B subordinate voting shares	TECK	New York Stock Exchange

Securities registered or to be registered pursuant to Section 12(g) of the Act.

None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act.

3.900% Notes due 2030

6.125% Notes due 2035

6.000% Notes due 2040

6.25% Notes due 2041

5.200% Notes due 2042

5.400% Notes due 2043

(Title of Class)

____________________________________________

For annual reports, indicate by check mark the information filed with this Form:


☒ Annual information form						☒ Audited annual financial statements

____________________________________________

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report.

7,599,532 Class A Common Shares and 498,743,441 Class B Subordinate Voting

Shares outstanding as of December 31, 2024.

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files).

Yes ☒ No ☐

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act.

Emerging growth company ☐

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☒

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Principal Documents

The following documents have been filed as part of this Annual Report on Form 40-F:

1.Annual Information Form of Teck Resources Limited for the year ended December 31, 2024.

2.Audited Consolidated Financial Statements of Teck Resources Limited for the year ended December 31, 2024, including the auditor’s report with respect thereto.

3.Management’s Discussion and Analysis for the year ended December 31, 2024.

Certifications and Disclosure Regarding Controls and Procedures

(a)Certifications. See Exhibits 31.1, 31.2, 32.1 and 32.2 to this Annual Report on Form 40-F.

(b)Disclosure Controls and Procedures. As of the end of the Registrant’s fiscal year ended December 31, 2024, an evaluation of the effectiveness of the Registrant’s “disclosure controls and procedures” (as such term is defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) was carried out by the Registrant’s management with the participation of the Registrant’s principal executive officer and principal financial officer. Based upon that evaluation, the Registrant’s principal executive officer and principal financial officer have concluded that as of the end of that fiscal year, the Registrant’s disclosure controls and procedures are effective to ensure that information required to be disclosed by the Registrant in reports that it files or submits under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms and (ii) accumulated and communicated to the Registrant’s management, including its principal executive officer and principal financial officer, to allow timely decisions regarding required disclosure.

It should be noted that while the Registrant’s principal executive officer and principal financial officer believe that the Registrant’s disclosure controls and procedures provide a reasonable level of assurance that they are effective, they do not expect that the Registrant’s disclosure controls and procedures or internal control over financial reporting will prevent all errors and fraud. A control system, no matter how well conceived or operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met.

(c)Management’s Annual Report on Internal Control Over Financial Reporting. The required disclosure is included in the section entitled “Management’s Report on Internal Control Over Financial Reporting” in the Registrant’s Management’s Discussion and Analysis for the fiscal year ended December 31, 2024, filed as part of this Annual Report on Form 40-F.

(d) Attestation Report of the Registered Public Accounting Firm. The required disclosure is included in the “Report of Independent Registered Public Accounting Firm” (PCAOB ID 271) that accompanies the Registrant’s Consolidated Financial Statements for the fiscal year ended December 31, 2024, filed as part of this Annual Report on Form 40-F.

Notices Pursuant to Regulation BTR

Not applicable.

Audit Committee Financial Expert and Identification of Audit Committee

We have an Audit Committee established by the Board of Directors in accordance with Section 3(a)(58)(A) of the Exchange Act. The members of the Audit Committee are Arnoud J. Balhuizen, Una M. Power, Paul G. Schiodtz and Sarah A. Strunk. The Board has designated Ms. Power as the “audit committee financial expert” as that term is defined in the Form 40-F. Ms. Power is “independent” as that term is defined by Rule 10A-3 of the Exchange Act and according to the New York Stock Exchange listing standards applicable to both foreign private issuers and domestic U.S. issuers.

Code of Ethics

We have adopted a code of ethics, revised as of February 22, 2024, that applies to our principal executive officer, principal financial officer and principal accounting officer or controller and persons performing similar functions. There have not been any amendments or waivers, including implicit waivers, from any provision of the code of ethics for any of those officers that occurred during the Registrant’s most recently completed fiscal year.

Our code of ethics is posted on our website, www.teck.com.

Principal Accountant Fees and Services

The required disclosure is included in the section entitled “Directors and Officers – Audit Committee Information – Auditor’s Fees” in the Registrant’s Annual Information Form for the fiscal year ended December 31, 2024, filed as part of this Annual Report on Form 40-F.

The audit committee’s pre-approval policies and procedures are described in the section entitled “Directors and Officers – Audit Committee Information – Pre-Approval Policies and Procedures ” in the Registrant’s Annual Information Form for the fiscal year ended December 31, 2024, filed as part of this Annual Report on Form 40-F.

In 2023 and 2024, the Registrant’s audit committee did not approve any audit-related, tax or other services pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements required to be disclosed in this Annual Report on Form 40-F.

Undertaking and Consent to Service of Process

A.Undertaking

The Registrant undertakes to make available, in person or by telephone, representatives to respond to inquiries made by the Commission staff, and to furnish promptly, when requested to do so by the Commission staff, information relating to: the securities registered pursuant to Form 40-F; the securities in relation to which the obligation to file an annual report on Form 40-F arises; or transactions in said securities.

B. Consent to Service of Process

The Registrant has previously filed Forms F-X in connection with the classes of securities in relation to which the obligation to file this report arises.

Dodd-Frank Act Mine Safety and Health Administration Safety Disclosure

Pursuant to Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, issuers that are required to file reports under the United States Securities Exchange Act of 1934 and that is an operator, or that has a subsidiary that is an operator, of a coal or other mine are required to include in their periodic reports filed with the United States Securities and Exchange Commission certain information regarding specified health and safety violations, orders and citations, related assessments and legal actions, and mining-related fatalities. The Registrant has reportable information under Section 1503(a) that is presented in Exhibit 95.1 to this report, which is incorporated herein by reference.

SIGNATURES

Pursuant to the requirements of the Exchange Act, the Registrant certifies that it meets all of the requirements for filing on Form 40-F and has duly caused this annual report to be signed on its behalf by the undersigned, thereto duly authorized.



Registrant:			TECK RESOURCES LIMITED

By (Signature and Title):			/s/ Amanda Robinson
			Name: Amanda Robinson
			Title: Vice President, Legal and Corporate Secretary

Date: February 20, 2025

LIST OF EXHIBITS


23.1			Consent of Independent Registered Public Accounting Firm

23.2			Consent of Rodrigo Marinho, P. Geo.

23.3			Consent of Fernando Angeles Beron, P. Eng

23.4			Consent of Lucio Canchis, SME Registered Member


23.5			Consent of Carlos Aguirre, FAusIMM

23.6			Consent of Hernando Valdivia, FAusIMM

31.1			Certification of Jonathan H. Price, Chief Executive Officer, pursuant to Rule 13a-14(a) or 15d-14 of the Securities Exchange Act of 1934

31.2			Certification of Crystal J. Prystai, Chief Financial Officer, pursuant to Rule 13a-14(a) or 15d-14 of the Securities Exchange Act of 1934

32.1			Certification of Jonathan H. Price, Chief Executive Officer, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.2			Certification of Crystal J. Prystai, Chief Financial Officer, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

95.1			Mandated mine safety and other regulatory matters
97			NYSE Incentive Based Compensation Reimbursement Policy

99.1			Annual Information Form for the fiscal year ended December 31, 2024

99.2			Consolidated Financial Statements for the fiscal year ended December 31, 2024, including the auditor’s report with respect thereto

99.3			Management’s Discussion and Analysis for the year ended December 31, 2024

101			Interactive Data File (formatted as Inline XBRL)

104			Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

Get the next $TECK alert in real time by email

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Date	Price Target	Rating	Analyst
2/2/2026		Neutral → Buy	Citigroup
1/22/2026		Buy → Hold	TD Securities
1/15/2026		Outperform → Mkt Perform	Raymond James
10/8/2025		Buy → Hold	Canaccord Genuity
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SEC Form 40-F filed by Teck Resources Ltd

2/20/25 3:46:54 PM ET

$TECK

Mining & Quarrying of Nonmetallic Minerals (No Fuels)

Industrials

Get the next $TECK alert in real time by email

teck-20241231

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________________________________

FORM 40-F

____________________________________________


☐			Registration statement pursuant to section 12 of the Securities Exchange Act of 1934


☒			Annual report pursuant to section 13(a) or 15(d) of the Securities Exchange Act of 1934

For the fiscal year ended December 31, 2024 Commission File Number 001-13184

____________________________________________

TECK RESOURCES LIMITED

(Exact name of Registrant as specified in its charter)

____________________________________________

(Translation of Registrant’s name into English (if applicable))

Canada

(Province or other jurisdiction of incorporation or organization)

1400

(Primary Standard Industrial Classification Code Number (if applicable))

NOT APPLICABLE

(I.R.S. Employer Identification Number (if applicable))

Suite 3300 – 550 Burrard Street, Vancouver, British Columbia, V6C 0B3 Canada

(604) 699-4000

(Address and telephone number of Registrant’s principal executive offices)

CT Corporation System, 28 Liberty St., New York, New York, 10005 (212) 894-8940

(Name, address (including zip code) and telephone number (including area code)

of agent for service in the United States)

Securities registered or to be registered pursuant to Section 12(b) of the Act.


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class B subordinate voting shares	TECK	New York Stock Exchange

Securities registered or to be registered pursuant to Section 12(g) of the Act.

None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act.

3.900% Notes due 2030

6.125% Notes due 2035

6.000% Notes due 2040

6.25% Notes due 2041

5.200% Notes due 2042

5.400% Notes due 2043

(Title of Class)

____________________________________________

For annual reports, indicate by check mark the information filed with this Form:


☒ Annual information form						☒ Audited annual financial statements

____________________________________________

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report.

7,599,532 Class A Common Shares and 498,743,441 Class B Subordinate Voting

Shares outstanding as of December 31, 2024.

Yes ☒ No ☐

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act.

Emerging growth company ☐

† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Principal Documents

The following documents have been filed as part of this Annual Report on Form 40-F:

1.Annual Information Form of Teck Resources Limited for the year ended December 31, 2024.

2.Audited Consolidated Financial Statements of Teck Resources Limited for the year ended December 31, 2024, including the auditor’s report with respect thereto.

3.Management’s Discussion and Analysis for the year ended December 31, 2024.

Certifications and Disclosure Regarding Controls and Procedures

(a)Certifications. See Exhibits 31.1, 31.2, 32.1 and 32.2 to this Annual Report on Form 40-F.

Notices Pursuant to Regulation BTR

Not applicable.

Audit Committee Financial Expert and Identification of Audit Committee

Code of Ethics

Our code of ethics is posted on our website, www.teck.com.

Principal Accountant Fees and Services

In 2023 and 2024, the Registrant’s audit committee did not approve any audit-related, tax or other services pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements required to be disclosed in this Annual Report on Form 40-F.

Undertaking and Consent to Service of Process

A.Undertaking

B. Consent to Service of Process

The Registrant has previously filed Forms F-X in connection with the classes of securities in relation to which the obligation to file this report arises.

Dodd-Frank Act Mine Safety and Health Administration Safety Disclosure

SIGNATURES



Registrant:			TECK RESOURCES LIMITED

By (Signature and Title):			/s/ Amanda Robinson
			Name: Amanda Robinson
			Title: Vice President, Legal and Corporate Secretary

Date: February 20, 2025

LIST OF EXHIBITS


23.1			Consent of Independent Registered Public Accounting Firm

23.2			Consent of Rodrigo Marinho, P. Geo.

23.3			Consent of Fernando Angeles Beron, P. Eng

23.4			Consent of Lucio Canchis, SME Registered Member


23.5			Consent of Carlos Aguirre, FAusIMM

23.6			Consent of Hernando Valdivia, FAusIMM

31.1			Certification of Jonathan H. Price, Chief Executive Officer, pursuant to Rule 13a-14(a) or 15d-14 of the Securities Exchange Act of 1934

31.2			Certification of Crystal J. Prystai, Chief Financial Officer, pursuant to Rule 13a-14(a) or 15d-14 of the Securities Exchange Act of 1934

32.1			Certification of Jonathan H. Price, Chief Executive Officer, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.2			Certification of Crystal J. Prystai, Chief Financial Officer, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

95.1			Mandated mine safety and other regulatory matters
97			NYSE Incentive Based Compensation Reimbursement Policy

99.1			Annual Information Form for the fiscal year ended December 31, 2024

99.2			Consolidated Financial Statements for the fiscal year ended December 31, 2024, including the auditor’s report with respect thereto

99.3			Management’s Discussion and Analysis for the year ended December 31, 2024

101			Interactive Data File (formatted as Inline XBRL)

104			Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

Get the next $TECK alert in real time by email

Recent Analyst Ratings for

$TECK

Date	Price Target	Rating	Analyst
2/2/2026		Neutral → Buy	Citigroup
1/22/2026		Buy → Hold	TD Securities
1/15/2026		Outperform → Mkt Perform	Raymond James
10/8/2025		Buy → Hold	Canaccord Genuity
9/8/2025	$42.00	Hold → Buy	Deutsche Bank
9/3/2025		Neutral → Buy	UBS
7/28/2025		Buy → Neutral	B. Riley Securities
7/25/2025		Sector Outperform → Neutral	CIBC

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