Teck Resources’ (TSX: TECK.A, TECK.B)(NYSE: TECK) board has approved a C$2.1–C$2.4 billion ($1.6 -$1.8 bn) project to extend the life of its Highland Valley Copper Mine (HVC) in British Columbia, securing operations at Canada’s largest copper mine into the mid-2040s.
Construction on the mine life extension (MLE) is set to begin in August. The Vancouver-based miner expects the expansion to support average annual production of 137,000 tonnes of copper through the remainder of the mine’s life.
“This extension is foundational to our strategy to double copper production by the end of the decade,” President and CEO Jonathan Price said. “Given the strong demand for copper as an energy transition metal, the HVC MLE will generate a robust internal return rate (IRR) and secure access to this critical mineral for the next two decades.”
The board’s green light follows B.C.’s approval of the…
