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Highland Valley Copper

Highland Valley Copper Operations is a copper and molybdenum operation located in south-central British Columbia.

About Highland Valley Copper

Highland Valley Copper (HVC) Operations is located approximately 17 kilometres west of Logan Lake and about 50 kilometres southwest of Kamloops in British Columbia. Teck has a 100% interest in HVC.

HVC produces both copper and molybdenum concentrates through autogenous and semi-autogenous grinding and flotation. Once processed, the metal concentrates are exported overseas, where the majority is sold under long-term sales contracts to smelters.

In 2015, the crusher relocation project in the Valley pit was completed, providing access to over 30 million tonnes of reserves as part of the current life of mine plan. We are continuing to conduct exploration around HVC to find new copper deposits near the historical Bethlehem pits. This area was previously mined in the 1960s and 1970s.

Copper production in 2019 is anticipated to be between 115,000 and 120,000 tonnes, with a relatively even distribution throughout the year. We expect annual copper production from 2020 to 2022 to be between 135,000 and 155,000 tonnes per year, increasing from the low end to the high end of the range during the three-year period. Copper production is anticipated to average about 150,000 tonnes per year after 2022, through to the end of the current mine plan in 2028.


Highland Valley Copper Operating Results

 

($ in millions)

2018

2017

Revenue

$941

$733

Gross Profit (Loss) Before Depreciation and Amortization (1)(2)

$343

$213

Gross Profit (Loss)(2)

$164

$18

Production (000's tonnes)

101

93

Sales (000's tonnes)

103

89

Notes:
(1)Non-GAAP Financial Measure. See “Use of Non-GAAP Financial Measures” section for further information.
(2)Certain 2017 comparative figures have been restated for new IFRS pronouncements. 2016 figures have not been restated. Please refer to Note 32 to our audited annual consolidated financial statements for the year ended December 31, 2018. 

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  • Teck

    Teck is a diversified resource company committed to responsible mining and mineral development with business units focused on copper, zinc, steelmaking coal and energy.