Strike begins at Teck's Highland Valley Copper mine in B.C

Explainer

Teck Resources Limited announced that a strike by United Steelworkers Local 7619 has started at its Highland Valley Copper Operations in British Columbia. The company said operations are continuing at a reduced capacity. The impact on overall copper production will depend on how long the labour action lasts. Teck stated it has contingency plans in place with the priority to maintain safety and environmental management during labour action. The strike commenced on Oct. 24, 2026. In a news release, Teck said it is committed to reaching a collective agreement that is fair and reasonable for employees and supports the ongoing viability of the operation. The company's forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause actual results to be materially different from any future results expressed or implied. Teck said these statements are based on assumptions regarding general business and economic conditions and the company's ability to continue to operate and manage site activities as currently expected.

What is the current status of operations?

Operations at the Highland Valley Copper mine are continuing at a reduced capacity following the start of the strike. Teck said the impact on overall production will depend on the duration of the labour action. The company stated contingency plans are in place with the priority to maintain safety and environmental management during labour action. Teck's ability to successfully implement contingency plans is one of the assumptions behind its forward-looking statements. Factors that may cause actual results to vary include, but are not limited to, the company's ability to implement contingency plans as currently anticipated or at all. Teck also noted that the timing, nature and impact of any labour disruptions, including on production and its previously issued guidance, are key variables. The company's shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and on the New York Stock Exchange under the symbol TECK.

READ MORE: CPKC chief urges Parliament to strengthen labour bill to prevent rail strikes

READ MORE: Canada's trade surplus surges to $4.2 billion as exporters race U.S. tariffs

Who is involved in the strike?

The strike action is being taken by members of United Steelworkers (USW) Local 7619. The union represents employees at Teck's Highland Valley Copper Operations in B.C. Teck Resources Limited is the Canadian resource company that owns and operates the mine. The company is headquartered in Vancouver and is focused on responsibly providing metals essential to economic development and the energy transition. Teck said it has a portfolio of world-class copper and zinc operations across North and South America and an industry-leading copper growth pipeline. The company stated that reaching a collective agreement that is fair and reasonable for employees is a key goal. Teck noted that dependence on key personnel, employee and union relations are among the matters that could impact its business results.

What are the company's stated risks and assumptions?

Teck's announcement contained extensive forward-looking statements and a list of associated risks. The company said forward-looking statements include statements regarding Teck's expectations regarding our ability to continue operations and manage site activities as currently expected and the potential impact of the strike on production and previously issued guidance. These statements are based on a number of assumptions, including assumptions regarding the company's ability to successfully negotiate and finalize the collective bargaining agreement. Factors that may cause actual results to vary include the company's ability to continue to operate and manage site activities as currently expected and its ability successfully negotiate and finalize the collective bargaining agreement. Other risk factors are detailed in Teck's annual information form and in its public filings with Canadian securities administrators and the U.S. Securities and Exchange Commission. Teck does not assume the obligation to revise or update these forward-looking statements after the date of this document, except as may be required under applicable securities laws. The company's investor contact is Edwin Shadeo, Acting Vice President, Investor Relations and Treasurer. The media contact is Dale Steeves, Director, External Communications. Teck describes itself as focused on creating value by advancing responsible growth and ensuring resilience built on a foundation of stakeholder trust.

With files from Financial Post and The Globe and Mail