Teck announces $2.4B project to extend life of B.C. copper mine

Key Takeaways:

• Teck Resources will invest between $2.1 and $2.4 billion to extend the life of Highland Valley Copper in B.C., keeping Canada’s largest copper mine operating until 2046.
• The project will sustain about 1,500 existing jobs, create 2,900 construction jobs, and generate roughly $935 million in GDP during construction and ongoing operations.
• Indigenous governments, including the Citxw Nlaka’pamux Assembly, will play a central role in oversight and decision-making, setting a new precedent for major project development in Canada.

The Whole Story:

Teck Resources Ltd. says it will spend up to $2.4 billion to extend the life of British Columbia’s Highland Valley Copper mine, a move that will keep Canada’s largest copper operation running until 2046 and support thousands of jobs in the province.

The Highland Valley Copper Mine Life Extension project, approved by Teck’s board this week, will extend production by nearly two decades and is billed as the largest critical minerals investment in B.C.’s history. The mine, which employs about 1,500 people and contributes roughly $500 million annually to provincial GDP, is expected to maintain those operations while creating an additional 2,900 jobs and $435 million in GDP during construction.

“This extension of Canada’s largest copper mine is foundational to our strategy to double copper production by the end of the decade,” said Jonathan Price, Teck’s president and CEO. “With strong demand for copper as an energy transition metal, this project will secure access to this critical mineral for the next two decades and continue the economic and community benefits Highland Valley Copper brings.”

Teck says the mine will produce an average of 132,000 tonnes of copper annually over the life of the project. Construction is set to begin in August, with engineering nearly 70 per cent complete and major permits already secured. The capital investment, expected between $2.1 and $2.4 billion, will cover infrastructure upgrades, mine fleet expansion, grinding circuit improvements, and enhanced power, water and tailings facilities.

B.C. Premier David Eby called the expansion a major boost for the provincial economy. “This multi-billion dollar project represents 2,900 new jobs and a $500 million increase to GDP,” he said. “It’s just one example of how British Columbia can drive our country’s economy forward even in challenging times.”

Indigenous leaders say the project reflects a new model for development. Christine Walkem, chair of the Citxw Nlaka’pamux Assembly and chief of the Cook’s Ferry Indian Band, said the eight participating bands have embedded their laws and governance into the project’s environmental assessment and oversight. “Our communities are not bystanders to development — we are decision-makers,” she said. “Our laws must continue to guide the process, and our people must share in the benefits now and for generations to come.”

The federal government also hailed the investment as a way to solidify Canada’s role as a global supplier of critical minerals. “By extending the life of Canada’s largest copper mine, we are strengthening our critical minerals sector here at home and becoming the international supplier of choice,” said Tim Hodgson, minister of energy and natural resources.

The Highland Valley Copper operation, wholly owned by Teck, will move through three mining phases, starting with existing pits through 2027, followed by development of satellite orebodies and a major pushback of the Valley pit between 2028 and 2033, before transitioning to high-grade ore from the Valley pit through 2046.

Teck says capital spending will be staged from the second half of 2025 through 2028, with detailed production and spending guidance to be updated in January 2026.