Teck Resources Granted Approval to Extend Mining Life of Highland Valley Copper Mine

On June 18 (Wednesday), Teck Resources has obtained an environmental assessment certificate to extend the mining life of its Highland Valley copper mine in British Columbia, Canada, which means that Canada's largest copper mine can remain operational until around 2045.

Teck Resources stated that it expects the expansion to support an average copper production of 137,000 mt per year over the remaining life of the mine.

Jonathan Price, President and CEO of Teck, said in a statement that preparations for construction will commence soon, and the company's board of directors is expected to make a final investment decision in Q3 this year.

He also noted that the expansion project will help strengthen the North American critical minerals supply chain and create job opportunities.

He stated that once the expansion project is operational, it will create approximately 2,900 direct jobs and 1,500 indirect jobs.

The copper mine's expansion project is part of the company's broader four-year plan with a total investment of up to $3.9 billion, aiming to increase Teck Resources' total copper production to 800,000 mt per year by 2030.