https://www.globenewswire.com/news-release/2018/12/04/1661409/0/en/Teck-Announces-US-1-2-Billion-Quebrada-Blanca-Transaction-QB2-Construction-to-Proceed.html
Found the NPV for QB2 so if Teck got $1.2B they pretty much got 100% of the NPV using copper at $3.50
Sanction Case(1)
| Copper price (US$ per pound) |
$ |
3.00 |
|
$ |
3.25 |
|
$ |
3.50 |
|
| 100% Project Basis |
|
|
|
| Net present value at 8% (US$ millions)(2)
|
|
2,426 |
|
|
3,293 |
|
|
4,152 |
|
| Internal rate of return (%)(2)
|
|
14.1% |
|
|
16.1% |
|
|
17.9% |
|
| Annual EBITDA (US$ million per annum) |
|
|
|
| First Five Full Years |
|
1,058 |
|
|
1,212 |
|
|
1,365 |
|
| First Ten Full Years |
|
998 |
|
|
1,145 |
|
|
1,291 |
|
| Life of Mine(3)
|
|
854 |
|
|
985 |
|
|
1,115 |
|
| Teck Attributable, Post Transaction |
|
|
|
| Net present value at 8% (US$ millions)(4)
|
|
2,114 |
|
|
2,641 |
|
|
3,161 |
|
| Internal rate of return (%)(4)
|
|
18.8% |
|
|
21.3% |
|
|
23.7% |
|
| Internal rate of return – levered(5) (%) |
|
29.9% |
|
|
35.1% |
|
|
40.0% |
|
| Payback from first production (years) |
|
4.5 |
|
|
3.9 |
|
|
3.5 |
|
Reserve Case(1)
| Copper price (US$ per pound) |
$ |
3.00 |
|
$ |
3.25 |
|
$ |
3.50 |
|
| 100% Project Basis |
|
|
|
| Net present value at 8% (US$ millions)(2)
|
|
2,030 |
|
|
2,867 |
|
|
3,695 |
|
| Internal rate of return (%)(2)
|
|
13.5% |
|
|
15.5% |
|
|
17.5% |
|
| Annual EBITDA (US$ million per annum) |
|
|
|
| First Five Full Years |
|
1,039 |
|
|
1,190 |
|
|
1,342 |
|
| First Ten Full Years |
|
973 |
|
|
1,117 |
|
|
1,262 |
|
| Life of Mine(3)
|
|
740 |
|
|
861 |
|
|
982 |
|
| Teck Attributable, Post Transaction |
|
|
|
| Net present value at 8% (US$ millions)(4)
|
|
1,873 |
|
|
2,386 |
|
|
2,884 |
|
| Internal rate of return (%)(4)
|
|
18.3% |
|
|
20.9% |
|
|
23.3% |
|
| Internal rate of return – levered(5) (%) |
|
29.2% |
|
|
34.6% |
|
|
39.5% |
|
| Payback from first production (years) |
|
4.5 |
|
|
3.9 |
|
|
3.5 |
|
