Teck Resources Announces C$1.74 Billion Private Placement

Teck Resources Limited ("Teck") (TSX:TCK.A and TCK.B, NYSE:TCK) announced today
that China Investment Corporation ("CIC") has agreed to purchase through a
wholly-owned subsidiary 101.3 million Class B subordinate voting shares of Teck
for C$17.21 per share. Teck will apply the net proceeds of the transaction to
reduce outstanding bank debt. On closing, CIC will indirectly hold approximately
17.5 per cent of Teck's outstanding Class B subordinate voting shares,
representing approximately 17.2 per cent equity and 6.7 per cent voting
interests in Teck. Upon completion of the transaction, Teck's Class A
shareholders as a group will hold a 61.8 per cent voting interest in Teck with
Temagami Mining Company Ltd. holding a 28.5 per cent voting interest.


Teck President and CEO Don Lindsay said: "This transaction will have an
immediate and very positive effect on Teck's balance sheet, and represents an
attractive opportunity for Teck to establish a relationship with a major Chinese
financial investor, with a deep understanding of China, the world's largest
consumer of our principal products."


CIC has advised Teck that it is acquiring the Class B shares for investment
purposes as a long- term passive financial investor and has agreed to hold the
purchased shares for at least one year following closing. Provided CIC does not
sell any purchased shares, it will have the right to maintain its percentage
ownership interest through open market purchases or through participation in
additional issuances of Teck Class B shares or similar securities or securities
convertible into such securities, subject to customary exceptions. If Teck were
to issue additional Class B shares within 12 months of closing at a price less
than C$17.21 per share (or securities convertible into Class B shares with a
conversion price less than C$17.21), CIC would be entitled to a partial
make-whole payment, capped at approximately 8.4 per cent of the aggregate
subscription price, payable at Teck's option in cash or in Class B shares.


CIC has also agreed that after the one year hold period, it will not sell the
purchased shares to a participant in the worldwide mining, metals or minerals
industries, or to a material customer of Teck. In the event of a takeover bid
for Teck, CIC will be permitted to tender its shares, provided that the bid has
features associated with a "permitted bid" customary in Canadian shareholder
rights plans, or is supported by the Teck board, and in certain other
circumstances.


A standstill provision provides that CIC will not take certain actions,
including acquiring additional securities of Teck (other than pursuant to its
anti-dilution rights) or soliciting proxies, proposing to effect any
extraordinary transaction involving Teck, or assisting any third party in doing
so.


CIC is investing through a special purpose vehicle, Fullbloom Investment
Corporation. The transaction is expected to close on or about July 14, 2009, and
closing is subject to customary conditions, including applicable stock exchange
approvals.


Forward-Looking Statements

This 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).
Forward-looking statements and information can be identified by the use of words
such as "expects", "intends", "is expected", "potential" or variations of such
words and phrases or statements that certain actions, events or results "may",
"could", "should", "would", "might" or "will" be taken, occur, or be achieved.


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. These
forward-looking statements include statements concerning Teck's expectations
regarding closing of the transaction, the impact of the transaction on Teck's
balance sheet, the potential for Teck's relationship with CIC, and China's
future role in commodities markets. These forward-looking statements involve
numerous assumptions, risks and uncertainties and actual results may vary
materially. Assumptions underlying these statements include, among others,
assumptions regarding receipt of necessary regulatory approvals and the
satisfaction of other closing conditions, and general business and economic
conditions. The foregoing list of assumptions is not exhaustive. Events or
circumstances could cause actual results to differ materially.


Factors that may cause actual results to vary include, but are not limited to,
risks relating to changes in general economic conditions or conditions in credit
and financial markets, risks relating to the fulfillment of closing conditions
and other risk factors as detailed from time to time in Teck's reports filed
with Canadian securities administrators.


Certain of these risks are described in more detail in the annual information
form of Teck and in its public filings with Canadian securities administrators.
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, metallurgical
coal, zinc, gold 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. Further information about Teck can
be found at www.teck.com.


About CIC

CIC is an investment institution established under the Chinese Company Law in
September 2007. It seeks stable and long term risk-adjusted financial return and
it is operated strictly on a commercial basis.


For more information, please visit CIC's website: www.china-inv.cn

Conference Call

Teck will hold an investor conference call to discuss the transaction at 11 AM
Eastern time, 8 AM Pacific time, on July 3, 2009. Media are invited to attend on
a listen-only basis. A live audio webcast of the conference call, together with
supporting presentation slides, will be available at Teck's website at
www.teck.com. The webcast will also be available at www.earnings.com. The
webcast will be archived at www.teck.com for approximately 90 days.


Conference call details are as follows:

Toronto: 416 340 2216

Toll free: 866 226 1792