Canadian mining company Teck Resources has received approval to construct a life extension project at its Highland Valley Copper mine in British Columbia.

The project will extend the mine's operational life from 2028 to 2046.

The company’s board sanctioned the construction of the project in July, following the issuance of an environmental assessment certificate and other necessary permits from the British Columbia Government.

The project involves enhancements and increased capacity requirements to extend the mine's operational life, as well as a mine pushback that necessitates additional waste stripping to access high-quality ore in the Valley Pit.

This initiative is expected to support average copper production of 132,000 tonnes per annum (tpa) throughout the mine's lifespan.

The estimated capital expenditure (capex) for the project ranges between C$2.1bn and C$2.4bn.

The company plans to allocate these funds from the second half of 2025 through 2028.

The capital investment for the project encompasses the development of site infrastructure and facilities, the expansion of the mining fleet, upgrades to the grinding circuit, an increase in tailings storage capacity, and improvements to power and water systems.

Teck Resources CEO Jonathan Price said in a statement: "This quarter marked a significant milestone in the growth of Teck's copper production into the future, with regulatory approval and Board sanction for construction of the Highland Valley Copper Mine Life Extension project.”

The life extension project has increased the company’s previous copper and molybdenum production forecast for 2028 by 20,000t and 1,100t, respectively.

Due to commence in August, the project aims to preserve around 1,500 direct jobs and is expected to generate approximately 2,900 positions during the construction phase.

In September 2024, Teck Resources revealed a new corporate structure focused on two regional business divisions – North America, which includes Highland Valley, and Latin America – as part of its transition to a pure-play energy transition metals company.