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Press release from Marketwire

Teck Announces Redemption of US$1.051 Billion Principal Amount of Notes

Thursday, February 16, 2012

Teck Announces Redemption of US$1.051 Billion Principal Amount of Notes22:26 EST Thursday, February 16, 2012VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 16, 2012) - Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) ("Teck") announced today that it has issued a notice of redemption to redeem, on March 19, 2012, all of the approximately US$530 million principal amount of its outstanding 9.75% senior notes due 2014 ("2014 Notes") and approximately US$521 million principal amount, or half, of its outstanding 10.75% senior notes due 2019 ("2019 Notes" and together with the 2014 Notes, the "Notes"). Teck intends to use the net proceeds from its previously announced offering of US$ 1.0 billion aggregate principal amount of senior unsecured notes, plus cash on hand, to fund the redemptions. Interest expense savings resulting from the redemption and the issuance of new senior unsecured notes are expected to be approximately US$55 million per annum, on an after-tax basis. Teck expects to record an estimated net after-tax accounting charge of approximately US$340 million in the first quarter of 2012 in connection with the redemption. The Bank of New York Mellon Trust Company, N.A., as trustee, has distributed the notice of redemption to registered holders of the Notes. This news release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities.Forward-Looking StatementsThis press release contains certain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information as defined in the Securities Act (Ontario). The forward-looking statements in this news release include statements concerning the expected net proceeds from the offering of the new senior unsecured notes, the amount of interest savings and the size and timing of the accounting charge related to the redemption.Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Teck to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that may cause actual results to vary include, but are not limited to, risks relating to conditions in financial markets, satisfaction of closing conditions of Teck's new offering, satisfaction of the requirements to enable redemption of the Notes, future U.S. Treasury rates, volatility in interest rates, exchange rates and the market value of notes redeemed. Teck does not assume the obligation to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.About Teck Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, steelmaking coal, zinc and energy. Headquartered in Vancouver, Canada, its shares are listed on the Toronto Stock Exchange under the symbols TCK.A and TCK.B and the New York Stock Exchange under the symbol TCK. FOR FURTHER INFORMATION PLEASE CONTACT: Marcia SmithTeck Resources Limited - Media ContactSenior Vice President, Sustainability and External Affairs604.699.4616marcia.smith@teck.comORGreg WallerTeck Resources Limited - Investor ContactVice President, Investor Relations and Strategic