Teck suspends 2020 production guidance, slows Highland Valley Copper to 80-85%

Teck Resources has suspended its 2020 production guidance due to the high degree of uncertainty associated with the Covid-19 pandemic and has reduced production at its Highland Valley Copper (HVC) operations to 80-85% of normal levels.

The cut follows Teck’s implementation of a temporary slowdown of operations and reduction of crews by up to 50% of regular levels at HVC from March 25. The measures will be in place for an initial two-week period, after which Teck said it will re-evaluate the situation.
HVC, located in British Columbia, Canada, produces both copper and molybdenum concentrates, with the majority sold under long-term sales contracts to smelters overseas. Last year, HVC produced 121,000 tonnes of copper. Copper production in 2020 was expected to be 133,000-138,000 tonnes, with lower production in the first half of 2020.
Annual copper production from 2021 to 2023 was expected to be 155,000-165,000 tonnes per year and to average about 150,000 tpy after 2023 through to the end of the current mine plan in 2027.

Teck produced a total 297,000 tonnes of copper at...

Published

Andrea Hotter

April 01, 2020

14:30 GMT

New York