Canada invests $70m in Seymour Lake lithium project in Ontario
The lithium mine operated by Australia's Green Technology Metals could become the province's first lithium producer.
Teck Resources (TSX: TECK; NYSE: TECK) contributed $20.1 billion in total economic contribution to global GDP, created or sustained over 214,000 jobs, made payments of $10.4 billion to suppliers, and contributed $5.1 billion in taxes, according to the company’s annual economic contribution report.
The report, prepared by Deloitte, says Teck’s operations contributed $10.9 billion to Canada’s GDP, which included $3.7 billion in labour income, payments of $4.7 billion to Canadian suppliers, and approximately 65,360 jobs created or sustained.
In the United States, the report credits Teck with contributing $2.2 billion to the United States’ GDP, which included $840 million in labour income, payments of $1.8 billion to US suppliers, and approximately 11,620 jobs created or sustained.
Additionally, Teck’s operations are reported to have contributed $3 billion to Chile’s GDP and $1.4 billion to Peru’s GDP.
“Our people are proud to contribute to the communities and jurisdictions where we operate through creation of family-supporting jobs, economic activity and revenue to governments to support essential services like education and healthcare,” Teck CEO Jonathan Price said in a news release.
“These economic contributions are directly linked with our work to responsibly provide critical minerals essential to modern society and for the global transition to a low-carbon economy,” Price said.
Read the report here.
