Teck Resources has received board approval to commence the Highland Valley Copper Mine Life Extension Project (HVC MLE), aimed at prolonging the life of Canada’s largest copper mine until 2046.
This move is anticipated to secure Teck’s copper production in the upcoming decades.
Construction on the project is set to start fully next month, following the issuance of the environmental assessment certificate and necessary permits in June 2025.
The development aims to upgrade and expand capacity, necessitating an estimated capital investment between C$2.1bn ($1.54bn) and $2.4bn ($1.76bn). The investment will occur from the second half of 2025 through 2028, addressing infrastructure development, mine fleet expansion, and improvements to power and water systems.
Teck Resources president and CEO Jonathan Price said: “This extension of Canada’s largest copper mine, Highland Valley Copper, is foundational to our strategy to double copper production by the end of the decade.
“Given the strong demand for copper as an energy transition metal, the Highland Valley Copper Mine Life Extension will generate a robust IRR and secure access to this critical mineral for the next two decades.
“The project will strengthen Canada’s critical minerals sector, generate new economic activity, and support the continuation of the jobs and community benefits that HVC generates for many more years to come.”
The extension project will continue operations at Highland Valley Copper, already a fully operational asset owned by Teck, with expectations to maintain around 1,500 direct jobs and C$500m ($376m) in annual GDP contributions.
Furthermore, approximately 2,900 jobs and an additional C$435m ($319m) in GDP are projected during the construction phase.
HVC MLE involves three distinct mining phases. These include maintaining current Valley and Lornex pits until 2027, transitioning through satellite orebodies from 2028 to 2033, and focusing on high-quality ore from the Valley pit from 2034 to 2046.
Material movement will vary across these phases, with an average of 50 million tonnes of ore expected annually throughout the mine’s extended life.
Production is subject to change based on grade variations due to differing ore input materials. Initially, higher grades are anticipated from the Lornex pit in Phase 1.
In Phase 2, grades may decline as operations shift to satellite orebodies while waste stripping at the Valley pit increases. By Phase 3, mining activities will predominantly source high-quality ore from the Valley pit.
