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Teck avoids Highland Valley strike with new agreement

Canadian copper mining company Teck Resources has averted strike action at its Highland Valley Copper operations in British Columbia, Canada.
Teck avoids Highland Valley strike with new agreement Teck avoids Highland Valley strike with new agreement Teck avoids Highland Valley strike with new agreement Teck avoids Highland Valley strike with new agreement Teck avoids Highland Valley strike with new agreement

Petra Witowski

Members of the United Steelworkers (USW) Local 7619 ratified a five-year collective agreement with Teck's Highland Valley Copper (HVC) operations on January 22. The agreement replaces a previous deal that expired on September 30, 2021.

The company had received a strike notice from the members of USW Local 7619, which represents 1,048 workers at the site, earlier this month.

"We are pleased to have reached a collective agreement that is fair to employees and supports the long-term success of Highland Valley Copper operations," Teck's General Manager of HVC Operations, Matt Parrilla, said.

Highland Valley is located in south-central British Columbia and produces both copper and molybdenum concentrates through autogenous and semi-autogenous grinding and flotation. Copper production for 2021 was expected to be between 128,000 and 133,000 tonnes.

Annual copper production for the next three years - 2022 to 2024 - is anticipated to be between 135,000 and 165,000 tonnes per year.

Prior to the announcement, Teck Resources traded on the New York Stock Exchange on January 21 at $32.55/share, up $3/share from the beginning of the year. The company also traded on the Toronto Stock Exchange on January 21 at C$41.73/share for class a and C$40.79/share for class b.