BRITISH COLUMBIA - Vancouver-based TECK COMINCO will spend $40 million to extend the life of its Highland Valley Copper operation to September 2013.
To keep the mine and mill producing an extra five years, the plan covers the mining of additional ore from the Lornex pit, and the relocation of two in-pit crushers in the Valley pit together with a push-back of the Valley pit wall to mine additional ore. Geotechnical studies have addressed pit wall stability issues to permit the extension.
Copper concentrate production over the remaining mine life is expected to average approximately 400,000 tonnes/year. During a transitional period of higher strip ratios and lower grades, concentrate production will decline to a low of approximately 305,000 tonnes in 2008. Molybdenum production is expected to range from 3.0 million to 8.0 million lb/year, averaging 4.4 million lb until the mine is closed. Head grades for the remaining mine life are expected to average 0.403% copper at a strip ratio of 0.5:1.
Information about the company's other operations may be found at www.TeckCominco.com.