TECK Resources faces a potential strike at Canada’s biggest copper mine from Saturday, adding another supply risk to an already tight global market, Bloomberg reported.
The United Steelworkers Local 7619 has authorised a strike at the Highland Valley Copper mine from 8am Pacific time on October 24, Teck said on Wednesday.
The previous labour agreement expired on September 30. Operations are continuing, while Teck said it had contingency plans to maintain safety and environmental management if workers walk out.
Highland Valley is expected to produce between 115,000 and 135,000 tons of copper this year. While smaller than major mines such as Escondida in Chile and Grasberg in Indonesia, it is an important supplier to the North American market.
The strike threat comes amid wider labour tensions in the copper industry, with prices close to record highs and supply constrained by operational disruptions.
Workers at Antofagasta’s Centinela mine in Chile recently ended a 10-day strike, while BHP narrowly avoided industrial action at Escondida after reaching an agreement with workers.
Copper supply has been under pressure from a series of mine disruptions, strengthening the bargaining position of workers seeking a greater share of higher mining profits.
Teck said it remained committed to reaching an agreement with the union.