By James Peters

Teck thriving, but Highland Valley output down in Q3

Oct 26, 2017 | 3:43 PM

VANCOUVER —  Third quarter results released by Teck Resources today suggest a down quarter for Highland Valley Copper in Logan Lake, but a positive period for the parent company.

Teck turned a $621 million profit last quarter, partly attributed to a 33 per cent bump in copper prices.

At Highland Valley, copper production was down about eight per cent, thanks to a planned move to a lower grade ore.

The mine also saw a new five-year labour deal ratified by its United Steelworkers-represented employees last quarter, and that included a $13 million one-time settlement.

Before the settlement, the company says operating costs were steady.

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Teck is still planning to install a $72 million ball mill to increase Highland Valley’s grinding capacity.

That project is expected to be complete by mid-2019.