The next question is from Oscar Cabrera from CIBC.

And we have a COVID committee that meets regularly to review the status of what we're doing and approve all of the additional ramp up changes that we're having.So a lot of protocols in place and working very closely with both the government and our subcontractors in union. But we're not quite sure that mark is all the way there yet. Alex, over to you.Thanks, Alex. I noticed that the back of the MD&A where you talk about the costs, the royalties for Red Dog seem to be a credit to tax this quarter? I would also like to point out that we use various non-GAAP measures in this presentation.

That's right.Thank you. We're delighted to have the Elkview plant expansion complete and got that done despite COVID. Red Dog zinc and concentrate sales were 93,800 tons, reflecting the normal season pattern of Red Dog sales.Our net cash unit costs after by-product credits were US$0.06 per pound lower than the same period last year, despite US$0.03 per in unexpected costs associated with COVID-19. I'm just curious if you're still seeing that. And we know and have spoken to a number of times that kind of value that that can create across the company, and certainly within the coal BU.So when you combine all those things together, when I say we will exit 2020 at $60 a ton or lower, we will be less than $60 a ton going into 2021 and be able to sustain that. And it ties in with when we receive the receipts from the sales and when we pay our bills and stuff. And that's expected to happen by the end of this month. And that'll continue that through the 2021 and forward.

Please disconnect your lines at this time and we thank you for your participation. Teck Resources believes that the demand slowdown from the coronavirus will only have a short-term impact on its operations. Fraser Phillips - SVP, IR and Strategic Analysis. The COVID-19 pandemic obviously had a significant negative impact on our business in the quarter. And any monetization efforts there, I would think was the recovery we've seen in the markets that would maybe be some more momentum on that front?Yeah, I'll turn it over to Andrew Golding in just a minute. [Operator Instructions] The first question is from Orest Wowkodaw from Scotia Bank, please go ahead.Hi, good morning. The impact of the suspension on cost and schedule will depend on the length of the suspension the ramp up period that I just described. – Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) provided an update to its guidance in connection with the status of the Fort Hills project.Suncor, as operator of the Fort Hills Energy Limited Partnership, has provided an update regarding its recently completed review of schedule, project costs and throughput. And we now expect to achieve full production in the completed quarters. And of that total, $305 million was achieved in the second quarter.And just as a reminder these reductions are against what we were expecting to spend back at the end of June 2019, when we started looking at cost reduction opportunities. Operator over to you for questions.Certainly. Later, we will conduct a question-and-answer session. We issued US$550 million of the 10-year notes and used the net proceeds to repurchase that US$268 million of the notes, maturing in 2021 '22 and '23.And used the balance to reduce draws on our $4 billion net revolving credit facility resulting in the transactions being leveraged neutral. So the first thing that I've spoken to a number of times is the strip ratio. And they are included in our current updated guidance as well.Turning to slide 20. Welcome to Teck’s Second Quarter 2020 Earnings Release Conference Call. Adjusted site costs of sales are expected to decrease over the remainder of 2020, as I mentioned, and we expect to end the year below $60 per ton of site costs.

We'll turn that over to Dale or Shehzad.Yeah, it's Dale.

So please bear with us if there is a play while we sort out who will answer your questions. This is a conservative that we think is prudent during these COVID-19 times and reinforces our commitment to maintain a very strong liquidity and our investment grade credit profile.We also continue to focus on our cost reduction program. So we're very, very pleased about that to be able to go forward with construction.That’s helpful. But of course there is still uncertainty with the pandemic.And we've seen reductions on both the demand and the supply side. Or is it completed? Thanks very much.Chinese steel production returned to pre-pandemic levels during the quarter and established new average daily record highs in both May and June. To do that, we had to run a higher strip ratio through 2019.

Importantly, our facilities do not have any earnings or cash flow based financial covenants.We do not include a credit rating trigger and there's no general material adverse effect borrowing condition.

The most significant adjustments was CAD$147 million of COVID-19 expenses in the quarter on an after-tax basis, which is primarily related to the suspension of our QB2 project.We also had a CAD$69 million adjustment for environmental costs, which relates to the impact of re-measuring or decommissioning and restoration provisions for our closed operations using a current credit adjusted risk-free discount rate.In addition we had adjustments of CAD$38 million for inventory writedowns and CAD$17 million for share based compensation. So that structural shift from shutting down high cost tonnage and replacing it and more with low cost tonnage has had a significant structural change.And then the fourth component that we're executing through 2020 is RACE21. Whether customers, I guess, outside of China are still deferring?

I'm going to take the opportunity to take a shot out.Again just because it sets up for the structural change that's occurred. And whether the guidance for Q3 assumes a higher proportion of spot sales in that number?Okay, thanks, Orest.

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