Modernization of the mine mill at Highland Valley Copper will bring an investment of $475 million and 500 construction jobs over the next two years, Teck Resources announced Thursday.

Construction is expected to begin as early as this fall with completion set for 2014, said Mark Freberg, manager of strategic planning at the copper mine.

"This is brand new and just approved by the Teck board yesterday," he said.

The project, which involves construction of a new mill building, will extend the life of the 40-year-old operation to 2026. It is expected to raise mill processing capacity by about 10 per cent and copper recovery rates by two per cent.

"It's a new generation of equipment but it's the same process," Freberg said.

"We have significantly extended the life of the Highland Valley Copper Mine in recent years, and the modernization of the mill makes sense, especially given the expected increases in throughout and copper recoveries," said Don Lindsay, president and CEO of Teck.

The company also announced plans to invest $210 million to increase capacity of an electronic waste recycling operation at the Trail zinc smelter and hydroelectric plant.

Specifically, Teck is building a new furnace at the Trail smelter that will integrate into the lead smelting process. Construction on the project will begin next year with completion scheduled for 2014.

"Last year, we recycled just over 13,000 tonnes of e-waste at our Trail Operations, and this project will significantly increase our capacity to recycle end-of-life electronic components, helping to keep them out of landfills and allowing for the recovery and reuse of valuable metals," Lindsay added.

Both moves are intended to improve the viability of two key operations for the company, Canada's largest publicly traded base metals and coal producer.

Teck Ltd. is celebrating the 25th year of operation for Highland Valley Copper, formed in 1986 when Cominco joined assets with Lornex Mining. Two years later, Highmont Mining joined the partnership.

Today the mine is owned by Teck Resources Ltd. (97.5 per cent) and Highmont Mining Co. (2.5 per cent).

In the late 1990s, Highland Valley itself was operating based on a 10-year lifespan. A mine plan stated operations would wrap up in 2010. Then it became 2017. Today the mine is forecast to continue operation until at least 2025.

The longer mine life has also allowed Teck to invest more in the mine to upgrade equipment and facilities. It now has more than 1,200 employees, down from a peak in 1986 of about 1,300 when the partnership formed.

myouds@kamloopsnews.ca