Teck Secures Approval for Highland Valley Mine Expansion, Boosts Copper Output for Two Decades

Teck Resources has secured approval for a multi-billion-dollar life extension of its Highland Valley copper mine in British Columbia, which will extend the mine's life from 2028 to 2046 and maintain 1,500 direct jobs and $500 million in annual GDP. The project is expected to boost copper output by 132,000 metric tons annually. The company also reported better-than-expected earnings for Q2, driven by stronger profitability from its Trail operations.

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) has received board approval for the construction of the Highland Valley Copper Mine Life Extension Project (HVC MLE), extending the mine's life from 2028 to 2046. This critical minerals investment aims to support Teck's strategy to double copper production by the end of the decade, given the strong demand for copper as an energy transition metal [1].

The project, which is a brownfield extension of the operational Highland Valley Copper (100% Teck owned) in British Columbia, involves upgrades and increased capacity requirements, along with a mine pushback requiring additional waste-stripping to access high-quality ore within the Valley Pit. The project's total capital investment is expected to be between $2.1 to $2.4 billion, making it the largest critical minerals investment in British Columbia history [1].

Teck's President and CEO, Jonathan Price, stated, "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 is expected to maintain approximately 1,500 direct jobs and $500 million in annual GDP, while also generating approximately 2,900 jobs and $435 million in additional GDP during the construction phase [1].

The project received strong support from various stakeholders, including the British Columbia government, Indigenous Governments, local communities, and industry groups. Premier of British Columbia, David Eby, commented, "This multi-billion dollar project represents 2,900 new jobs and a $500 million increase to GDP. It’s just one example of how British Columbia can drive our country’s economy forward even in challenging times." The Citxw Nlaka’pamux Assembly (CNA) also recognized the project as a defining moment for the 8 Participating Bands of the CNA, emphasizing the importance of Indigenous law, governance, and authority in decision-making about lands, waters, and people [1].

The project's capital expenditure guidance for 2026 and production guidance for 2029, including HVC MLE, will be disclosed when Teck issues its annual guidance in January 2026. The project's capital estimate is expected to be invested from H2 2025 through 2028, with construction set to commence in full in August 2025 [1].

References:

[1] https://www.teck.com/news/news-releases/2025/teck-announces-construction-of-highland-valley-copper-mine-life-extension-to-proceed