I am up at HVC once a week, they are a huge customer so I try to keep up on whats going on.
True, Teck has been and continues to look at all ways of cutting costs. I won't comment on a 2014 budget as I dont think we will find out much until year end results are in etc., etc.
Cutting costs = more profit = more money to spend on future projects.
HVC in 2013 has undergone a $25 million, 90,000 meter drilling program. 15K meters in the Valley pit and 75K meters across the highway at the old Bethlehem site.
Not sure about 80 years! but they will be mining up there for a long time yet. Current mine plan is until 2027 but plans are being put in place for mine life extensions. The phase 1 plan from the Bethlehem drilling has about a 5 year mill feed. There are plans being looked at that may not be public so I will call it speculation, to operate into the 2040's and beyond. There is no shortage of low grade copper ore at Highland Valley.
They have just spent (almost complete) $550 million on mill optimization wich expects to increase mill throughput by 10% and increase copper recoveries by at least 2%. This is huge, it means they will cut costs to produce copper and can still be viable if they run through lower grade.
Teck is commited to growing, they want to increase copper production substantially.
Shaft Creek fits the bill for all the reasons we all know. We may not see construction start for a while yet, but Copper Fox me thinks will be out of the picture.
I have included some items for your reading enjoyment.
http://www.kamloopsnews.ca/article/20130604/KAMLOOPS0101/130609974/teck-investment-fuels-expansion&template=JQMArticle
http://www.teck.com/res/tc/documents/_ces_portal_meta/downloads/investors/ir%20presentations/investor%20day%20nov%202013/06%20-%20da%20copper%20final.pdf
http://www.google.ca/url?sa=t&rct=j&q=highland%20valley%20copper%20positioning%20for%20growth&source=web&cd=1&ved=0CCkQFjAA&url=http%3A%2F%2Fwww.teck.com%2FDocumentViewer.aspx%3FelementId%3D212396%26portalName%3Dtc&ei=drSrUtnfGtLooASLyYHQAg&usg=AFQjCNEa_dQmJVjVcvaRMVap0lfFmbEbOQ&sig2=ovddoTR5mWgX02WbhJkxag&bvm=bv.57967247,d.cGU
Have a great weekend, Radagast
