Teck is facing sanctions over infractions that include openings in the deposit where the ore is stored and a failure to build sufficient water infrastructure.
Collectively, Canada's energy sector lost more than $600 million in the first three months of this year, and the Canadian economy shrank in the same period, as the collapse in oil prices took its toll.
It also plans to review the legal status of the joint venture, while it negotiates with Ivanhoe to raise its stake to 20% from the current 5% it holds.