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Teck flags potential strike at Highland Valley beginning January 16, says negotiations ongoing

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(Kitco News) - Teck Resources (TSX: TECK.A and TECK.B) reported yesterday that strike notice has been received from the United Steelworkers (USW) Local 7619, which represents 1,048 workers at Teck’s Highland Valley Copper Operations in B.C.

The company said that the strike notice entitles the union to potentially begin strike action following the 72-hour strike notice period and 48 hours after the mediator reports to the Labour Relations Board, and that the earliest that strike action could potentially commence is January 16.

Importantly, Teck added that negotiations are ongoing and the parties are scheduled to meet with the mediators on Friday, January 14. The previous collective agreement at HVC expired on September 30, 2021.

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.

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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.

Copper production in 2021 is anticipated to be between 128,000 and 133,000 tonnes, with lower production in the first half of 2021. Annual copper production from 2022 to 2024 is expected to be 135,000 and 165,000 tonnes per year.

Teck is one of Canada’s leading mining companies focused on copper, zinc, and steelmaking coal, as well as investments in energy assets.

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