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Wednesday, Oct 15, 2025
Mugglehead Investment Magazine
Alternative investment news based in Vancouver, B.C.
Teck negotiates with U.S., Canada over key defence metals
Teck negotiates with U.S., Canada over key defence metals
Image via Teck Resources.

Rare Earths

Teck Resources negotiates with U.S., Canada over key defence metals

Teck is the world’s fourth-largest producer of germanium and currently produces a small amount of antimony

Teck Resources Ltd. (TSE: TECK.B) (TSE: TECK.A) (NYSE: TECK) is in talks with the United States and Canada to supply minerals critical to their defence industries, if both governments agree to provide support such as minimum prices and purchase guarantees.

On Friday, chief executive Jonathan Price said the Vancouver-based miner is negotiating potential supply deals for germanium, antimony and gallium as western nations face tightening export controls from China.

The discussions come as the company weighs extending the life of its Red Dog zinc mine in Alaska, which produces germanium as a byproduct.

Price said that Teck could meet all of North America’s germanium needs and potentially those of the entire G7. He also said the company was in active conversations about price floors and possible stockpiling arrangements with both governments.

The talks follow China’s announcement of new export restrictions on rare earth metals and permanent magnets, which are vital to high-tech and defence applications. Consequently, prices for germanium — used in thermal imaging systems found in fighter jets and other military equipment — have climbed to their highest level in at least 14 years.

Teck is the world’s fourth-largest producer of germanium and currently produces a small amount of antimony. However, the company could significantly increase output of both minerals, and add gallium production, by reconfiguring its processing operations. Price said China has used its market dominance as “a coercive tool in trade relationships,” intensifying efforts by western governments to secure domestic supply chains.

Read more: NevGold Corp’s limousine Butte drill program targets first Gold-Antimony resource estimate

Read more: GoldMining chooses to retain its NevGold shares for next 18 months

United States seeks reduction on foreign reliance for REE

The United States has recently taken equity stakes in several mining companies to reduce reliance on Chinese materials. Price said he did not believe direct government investment was necessary in Teck’s case. However, he welcomed broader cooperation on strategic minerals.

Meanwhile, Price addressed a recent production downgrade at Teck’s flagship copper operation in Chile, Quebrada Blanca. He said he accepted full responsibility for the guidance cut and had taken a more hands-on approach to overseeing operations.

Despite the setback, Price emphasized that the intrinsic value of the Chilean mine remained strong. He added that recent operational issues were being closely managed and that Teck’s long-term position in copper remained secure.

The United States has taken several steps to reduce its reliance on Chinese rare earth elements and other critical minerals. Through the FAST-41 program — short for Fixing America’s Surface Transportation Act, Title 41 — Washington has fast-tracked permitting for key mining and processing projects that support national security and clean energy goals.

Additionally, the U.S. government has begun taking minority stakes in strategic mineral producers. Earlier this year, it acquired a 10 per cent interest in Lithium Americas Corp (TSE: LAC) (NYSE: LAC) to secure long-term supplies of lithium for electric vehicle batteries.

Meanwhile, several North American companies are positioning themselves to benefit from this policy shift. NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) for instance, has been highlighting its potential to produce antimony. Antimony is a metal used in ammunition and semiconductor manufacturing.

 

NevGold Corp is a sponsor of Mugglehead news coverage

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