Teck Resources, the parent company of local economic powerhouse Highland Valley Copper Mine, has released its annual Economic Contribution Report. The report shows over $1.1billion in total economic contributions by Teck to the Thompson Nicola Regional District (TNRD), wherein both Highland Valley Copper Mine and the City of Merritt lie. 

Highland Valley Copper Mine is located 17 kilometres outside of nearby Logan Lake, where the mine produces over 100,000 tonnes of raw ore on an annual basis. The mine extracts both copper and molybdenum concentrates, both of which are exported overseas to be sold to smelters. The mine creates over 1,500 direct local jobs in the TNRD, a region where Teck resources paid $24.3 million in taxes and payments to various local governments in 2021. The total annual value of Teck’s employment in the region for 2021 is estimated by them at $310 million.

“Our people are proud to contribute to the communities and jurisdictions where we operate, including the Thompson-Nicola Regional District, through creation of family-supporting jobs, economic activity, and revenue to governments to support essential services like education and healthcare,” said Jonathan Price, CEO.

“These economic contributions are directly linked with our work to responsibly provide critical minerals essential to modern society and for the global transition to a low-carbon economy.”

In addition to the direct financial contribution in tax dollars and employee salaries, the mining operation employs contractors, donates to local charities and initiatives, and invests in local infrastructure. The total estimated economic impact by Teck in the TNRD is $1.1billion for 2021, an impressive number estimated by the organization.

Teck Resources is currently in the process of attempting to extend HVC’s operational lifespan, currently set to end in 2027/28, to the year 2040. Teck said the expansion would create an additional 1500 jobs and contribute an estimated $800 million in total economic benefits.

“HVC 2040 allows for the continuation of social and economic benefits, while also helping to meet the growing demand for copper driven by the transition to a low-carbon future,” reads Teck’s website for the project.

“HVC 2040 would yield approximately 1.95 million tonnes of additional copper over the life of the project.”

The planned 758 hectare expansion would see two open mining pits expanded, as well as the expansion of a tailing pond. The project is still roughly a year from provincial approval on the project, and is currently conducting environmental assessments and consulting with Indigenous nations in the area.

To read the full Economic Contribution Report, or learn more about the proposed HVC 2040 expansion project, visit www.teck.com.