Teck Resources Limited Revenue and Competitors

Teck Cominco Limited, based in Vancouver B.C., is a diversified mining and refining company and is a world leader in the production of metallurgical coal and zinc, in addition to being a major producer of copper and gold. The events of the past few years have proven the effectiveness of our diversified strategy as the metallurgical coal business has been healthy at a time when precious and base metal prices were depressed. In 2003, our conservative financial position allowed us to complete a major transaction in the coal business, dramatically expanding our presence in met coal, at a time when other base metal mining companies were struggling to survive. The debt from the coal transaction is now largely repaid and in 2004 all of our businesses are expected to benefit from higher prices and an improved supply and demand outlook. Teck Cominco actively explores for mineral deposits throughout the world with exploration offices located in nine countries. The company is active in product and process research in order to enhance the value of the company by developing its intellectual capital.