Highland Valley Copper announces layoffs – reports
Teck plans to reduce the workforce at Highland Valley Copper by six per cent.
United Steelworkers local 7619 says it was informed of the cuts by Teck on Thursday. Cuts will take place next year.
Highland Valley Copper employs approximately 900 people, nearly half of them living in Kamloops.
Non-union contractors will feel the brunt of the labour reductions.
In its recent quarter Teck Resources (NYSE: TCK) announced a $1.7 billion (Cdn$2.2 billion) asset impairment charge.
Highland Valley Copper is an open pit copper mine operating in southern British Columbia. It produces copper and molybdenum concentrates. Highland Valley Copper has a mine life to 2027.
Mining.com Recommends
Ebola concentrated in Congo mining area, still an emergency — WHO
Fifteen new confirmed cases were reported in North Kivu and Ituri provinces in the week to Oct. 13.
Pangaea ups stake in First Quantum Minerals, shares jump
Pangaea bought an additional 6 million shares, bringing its stake in the company to over 10%.
Ivanhoe encouraged by rise in palladium prices
The Vancouver-based company announced that the weighted price of the 'basket' of metals contained in the ore at the Platreef project rose to a new, multi-year high.
Chile’s Codelco ditches ‘green copper’ push, eyes wider mine clean-up in two years
The miner realized it would struggle to guarantee its copper's sustainability once it left the mine to be melted down and taken to market.