China smelter group agrees to lower Q1 copper charges
The charges tend to fall when ore supply declines and rise when more concentrate is available.
Teck Resources Limited (NYSE: TCK) will invest $210 million at its Trail Operations to increase its capacity to recycle end-of-life electronic waste and $475 million in a mill modernization project at Highland Valley Copper.
Both operations are located in British Columbia.
The No. 4 Furnace Project at Trail Operations includes the construction of a new slag fuming furnace and settling furnace that will integrate into the existing lead smelting process. Construction on the project will begin in 2012 with completion scheduled for 2014.
“This is part of our ongoing commitment to the community of Trail,” said Mr. Lindsay. “Last year we recycled just over 13,000 tonnes of e-waste at our Trail Operations, and this project will significantly increase our capacity to recycle end-of-life electronic components, helping to keep them out of landfills and allowing for the recovery and reuse of valuable metals.”
The 40-year old mill at Highland Valley Copper will be modernized and will extend the life of the mill to match the expected mine life. The project is also expected to increase mill throughput by approximately 10 percent and copper recoveries by approximately two percent. Construction will begin immediately, and the project is expected to be completed by the end of 2013.
“We have significantly extended the life of the Highland Valley Copper mine in recent years, and the modernization of the mill makes sense, especially given the expected increases in throughput and copper recoveries,” said Mr. Lindsay.
Image of Highland Valley Copper Mine is from bcbackrider
