Highland Valley Copper reported unaudited operating results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported copper production of 27,300 tonnes compared to 23,900 tonnes for the same period a year ago. Copper sales were 30,400 tonnes compared to 23,000 for the same period a year ago. The company milled total 11,653,000 tonnes compared to 11,112,000 tonnes milled for the same period a year ago. Molybdenum production was 2,800 tonnes compared to 2,000 tonnes for the same period a year ago. Molybdenum sales were 3,100 tonnes compared to 1,800 for the same period a year ago. For the full year, the company reported copper production of 97,300 tonnes compared to 98,500 tonnes for the same period a year ago. Copper sales were 103,900 tonnes compared to 97,800 for the same period a year ago. The company milled total 42,284,000 tonnes compared to 42,488,000 tonnes milled for the same period a year ago. Molybdenum production was 7,900 tonnes compared to 6,900 tonnes for the same period a year ago. Molybdenum sales were 8,400 tonnes compared to 6,700 for the same period a year ago. The company’s Copper production in 2012 is expected to be in the range of 105,000 to 110,000 tonnes of copper. Molybdenum production in 2012 is expected to be similar to 2011.

Highland Valley Copper announced earnings results for the third quarter and nine months ended September 30, 2011. For the quarter, the company announced revenues of CAD 808 million compared to CAD 566 million for the same period a year ago. Gross profit before depreciation and amortization was CAD 439 million compared to CAD 306 million for the same period a year ago. Gross profit was CAD 362 million compared to CAD 240 million for the same period a year ago. For the nine months, the company announced revenues of CAD 2,330 million compared to CAD 1,734 million for the same period a year ago. Gross profit before depreciation and amortization was CAD 1,335 million compared to CAD 1,021 million for the same period a year ago. Gross profit was CAD 1,115 million compared to CAD 817 million for the same period a year ago.

Teck Resources Limited announced that its Highland Valley Copper operation and the United Steelworkers of America Local 7619 have reached a tentative collective agreement with the assistance of mediator Vince Ready. The union will schedule a ratification vote to be held in the coming days. The tentative agreement is for a five year term, expiring on September 30, 2016.