Teck Resources will invest $685 million to modernize its Trail, B.C. operations and Highland Valley copper project.
VANCOUVER– Teck Resources ltd. is investing $685 million in two of its British Columbia operations in an effort to improve their long-term viability.
The Vancouver-based miner will invest $210 million at its Trail Operations to increase its capacity to recycle end-of-life electronic waste (e-waste) and $475 million in a mill modernization project at its Highland Valley Copper project.
The work slated for its Trail Operations includes building a new slag fuming furnace and settling furnace into the existing lead smelting process. Construction will begin in 2012 with completion scheduled for 2014.
Teck’s 40-year old mill at Highland Valley Copper will be modernized to match the expected mine life. The plan will increase mill throughput by 10 per cent and copper recoveries by approximately two per cent. Construction will begin immediately and is expected to be completed by the end of 2013.
“We have significantly extended the life of the Highland Valley Copper mine in recent years, and the modernization of the mill makes sense, especially given the expected increases in throughput and copper recoveries,” said Mr. Lindsay.
Teck wholly or partly owns 13 mines in Canada, the USA, Chile and Peru where it produces copper, steelmaking coal and zinc, molybdenum and specialty metals. It also has interests in several oil sands operations.