Teck suspends 2020 production guidance, slows Highland Valley Copper to 80-85%

Teck Resources has suspended its 2020 production guidance due to the high degree of uncertainty associated with the Covid-19 pandemic and has reduced production at its Highland Valley Copper (HVC) operations to 80-85% of normal levels.

The cut follows Teck's implementation of a temporary slowdown of operations and reduction of crews by up to 50% of regular levels at HVC from March 25. The measures will be in place for an initial two-week period, after which Teck said it will re-evaluate the situation.
HVC, located in British Columbia, Canada, produces both copper and molybdenum concentrates, with the majority sold under long-term sales contracts to smelters overseas. Last year, HVC produced 121,000 tonnes of copper. Copper production in 2020 was expected to be 133,000-138,000 tonnes, with lower production in the first half of 2020.
Annual copper production from 2021 to 2023 was expected to be 155,000-165,000 tonnes per year and to average about 150,000 tpy after 2023 through to the end of the current mine plan in 2027.

Teck produced a total 297,000 tonnes of copper at...

China's gold holdings to central bank reserves still low

China has broad effect on gold market

Gold stocks mixed after previous week's huge gains

Large TSXV gold multiple driven up by high Artemis weighting

Monetary-driven precious metals outperform major base metals