Highland Valley Copper announces layoffs

Teck will be letting go of six per cent of workers in the new year at Highland Valley Copper  as the company struggles with low copper prices.

United Steelworkers local 7619 says it was told by Teck on Thursday that in addition to the layoffs, the mine will be cutting production by 30%. 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.

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