The logo for Canadian mining company Teck Resources Limited is displayed above their booth at the Prospectors and Developers Association of Canada (PDAC) annual conference in Toronto, Ontario, Canada March 7, 2023.
The project is expected to sustain an average annual copper production of 132,000 metric tonnes throughout the mine’s extended lifespan, according to the company’s statement. This development aligns with Teck’s goal to significantly increase its copper output in the coming years.
“This extension of Canada’s largest copper mine is a key part of our plan to double copper production by the end of the decade,” said CEO Jonathan Price. “With growing demand for copper as a critical material for energy transition, this project will deliver strong returns and ensure access to this essential resource for the next two decades.”
Previously, in October 2024, Teck adjusted its full-year copper production forecast downward due to operational delays and workforce challenges at the Highland Valley Copper mine. The newly approved extension project, scheduled to commence in August 2025, will help address long-term production stability.
The initiative is expected to maintain approximately 1,500 direct jobs at the mine and create around 2,900 additional jobs during the construction phase. The estimated capital investment for the project ranges from C$2.1 billion ($1.54 billion) to C$2.4 billion ($1.76 billion), with funding allocated from the second half of 2025 through 2028.
Prior to this approval, the mine’s operational life was projected to end in 2028. The extension will secure its role as a vital contributor to the region’s economy and the global supply of copper.
