Teck(US:TECK) Globenewswireยท2025-07-24 04:45Core Viewpoint - Teck Resources Limited has received board approval for the Highland Valley Copper Mine Life Extension Project, which aims to extend the life of Canada's largest copper mine and support future copper production [1][2] Project Overview - The Highland Valley Copper Mine Life Extension (HVC MLE) is a brownfield project that will extend operations from 2028 to 2046 [5] - The project is expected to generate an average copper production of 132,000 tonnes per year over its lifespan [9] - Construction is set to begin in August 2025, following the issuance of necessary permits in June 2025 [6] Financial Aspects - The capital investment for the project is estimated to be between $2.1 billion and $2.4 billion, marking it as the largest critical minerals investment in British Columbia's history [7][9] - The project is anticipated to create approximately 2,900 jobs and contribute an additional $435 million to GDP during the construction phase [9] Production and Operations - The production profile will consist of three distinct mining phases, with total material movement expected to increase significantly during the initial phase [10][15] - The average total tonnes mined will be approximately 50 million tonnes per annum, with variations based on ore hardness [10] Community and Stakeholder Engagement - Teck emphasizes collaboration with Indigenous governments and local communities to ensure responsible development and long-term benefits [2][13] - The project has been recognized as a significant step for Indigenous governance and community participation in resource management [13][14] Strategic Importance - The HVC MLE project is foundational to Teck's strategy to double copper production by the end of the decade, driven by strong demand for copper as a critical mineral for energy transition [2][9] - The project is expected to strengthen Canada's critical minerals sector and enhance the country's position as a key supplier of essential metals [16]