Communities & Red Dog Mine November 2015
Why It Works
Teck’s Approach to Communities Our Vision: We build strong relationships and create lasting mutual benefits based on respect for what communities value. We work to create mutual benefits by: • Delivering shared value: providing local employment and economic benefits • Minimizing negative impacts: including those affecting the local environment and social landscape • Respect and transparency: Developing and maintaining trust-based relationships with local communities We provide community investments that: • Meet community development priorities • Focus on one of four categories: health, education, environment, and community Teck donates approximately 1% of our annual pre-tax earnings on a five-year rolling average 3 basis.
Red Dog’s Contributions Annual average jobs* ~ 550 Average salary of a Red Dog employee $99,000 Total wage impact in NWAB $65 million Annual State and Federal Taxes Paid ~$100 million Spend on goods and services within the state of Alaska $158 million NANA 7(i) payments from Red Dog $1B royalty $617 million *Including on-site, year-round contractors 4
Northwest Arctic Borough Payments In Lieu of Taxes (PILT) $14 Millions Red Dog Capital $12 Investment Recovered $10 Total: $8 $127.9M $6 $4 $2 $0 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Year Year PILT Payment 2011 $ 12,132,438 2012 $ 10,938,685 Historically the PILT accounts for 70% - 80% of total budgeted General Fund revenues for 2013 $ 11,000,380 the Northwest Arctic Borough. 2014 $ 11,501,954 2015 $ 12,041,775 5
Regional and Community Support $2.2 million invested directly in community programs since 2012 NBA Student Teck John Baker NANA Nordic Incentive Youth Leaders Program Kivalina General Store fire Village Seed Noatak Fuel Haul Noatak Youth Program Collection Centre Project
The “Intangibles” 7
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