RockHawks covers the Highland Valley Copper strike, Tower Mountain gold drilling, Red Chris costs and Canadian mining deals and financing for October 25, 2026

October 25, 2026 | NetNewsLedger Mining News

THUNDER BAY — A strike at one of British Columbia’s major copper operations leads today’s RockHawks roundup, alongside gold drilling west of Thunder Bay and new details on the billions needed to develop Red Chris.

For Northwestern Ontario’s workers, communities and mining suppliers, these stories show how labour, exploration funding and construction costs can shape a project’s future. This Sunday edition covers selected announcements from October 19–24, including an October 24 update confirming that labour action has begun at Highland Valley Copper.

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Canadian mining: Strike begins at Highland Valley Copper

Teck announced October 24 that United Steelworkers Local 7619 had begun strike action at Highland Valley Copper in British Columbia.

The company said operations were continuing at reduced capacity. It did not quantify lost output and said the production impact would depend on the strike’s duration. Teck said contingency plans prioritize safety and environmental management.

In its October 21 statement, the union said its proposals address staffing shortages, wages and pensions. It reported that all 944 members who participated in its strike vote supported action. Local 7619 represents approximately 1,200 workers at the operation.

Teck says it wants an agreement that is fair to employees and supports the operation’s viability. The two statements establish the parties’ positions; they do not settle the disputed bargaining issues.

Northwestern Ontario: Thunder Gold reports 102-metre gold interval

Thunder Gold’s October 19 release reported 1.178 grams of gold per tonne over 102.0 metres in hole TM26-221 at Tower Mountain, approximately 40 kilometres west of Thunder Bay.

The company’s results table gives an estimated true width of 75.7 metres for that interval. The 102.0 metres is the length measured along the drill hole, rather than the deposit’s actual thickness.

The hole also ended in a separate 12.0-metre interval grading 0.785 grams per tonne outside the current optimized pit limit. Thunder Gold says additional drilling is planned on the section and that it is increasing planned drilling at Tower Mountain.

These results support further testing. They do not, by themselves, establish a larger mineral resource, a reserve or a profitable mine.

Regional analysis: Tower Mountain’s proximity makes this a direct exploration story for the Thunder Bay district. Further work could support drilling and technical-service demand, but the release does not establish new local contracts or job totals.

Red Chris: Newmont estimates US$4.2 billion to US$4.8 billion in development capital

Newmont’s October 22 update puts development capital for the Red Chris block-cave project in British Columbia at US$4.2 billion to US$4.8 billion, on a 100-per-cent project basis.

The estimate includes contingency and is stated in real terms. It is net of an anticipated C$500-million federal contribution, whose terms Newmont says remain to be finalized. It excludes costs to transition from open-pit to block-cave operations.

Newmont owns 70 per cent of Red Chris; Imperial Metals owns 30 per cent. The company expects a full-funds investment decision in early 2027. Construction and commercial production, targeted for 2027 and 2033 respectively, remain subject to board approvals.

Regional analysis: This is a useful cost-and-schedule comparison for Ontario developers. It shows why funding announcements and permits must be distinguished from a final construction decision. No Northwestern Ontario contract was identified.

Critical-minerals financing: Antimony Resources closes C$3-million placement

Antimony Resources reported October 23 that it had completed a non-brokered private placement, issuing 10 million units at C$0.30 each for C$3 million in gross proceeds.

Each unit includes one common share and half a warrant. A whole warrant allows the purchase of another share at C$0.50 until October 23, 2028. The company said net proceeds would fund Bald Hill exploration and development in southern New Brunswick, along with general working capital.

The release cautions that the project’s exploration target is conceptual. Insufficient work has been completed to define a mineral resource. A completed financing does not remove that geological uncertainty.

Regional analysis: The transaction illustrates the difference between announced fundraising and money raised. It does not establish new antimony production or direct Northwestern Ontario work.

Acquisitions: Questcorp agrees to buy remaining North Island interest

Questcorp Mining’s October 22 company release says it has reached an agreement to complete its option and acquire the remaining 49 per cent of the North Island Copper Project near Port Hardy, British Columbia.

The company already holds 51 per cent. Completion would bring ownership to 100 per cent, with a three-per-cent net smelter returns royalty granted to the vendor. That royalty is a payment tied to mineral sales after specified deductions.

Completion remains subject to regulatory approvals. This is an agreed acquisition step, rather than a confirmed completed purchase.

Regional analysis: No direct Northwestern Ontario operating effect was established. For readers tracking exploration deals, the important next disclosure is confirmation that the option exercise has closed.

International: BHP reports lower copper output while funding Chilean growth work

BHP’s October 20 operational review reported about 401,000 tonnes of copper production in the quarter ended September 30, down 19 per cent from the same period a year earlier.

BHP cited lower grades, maintenance, weather, safety stoppages and equipment failure. It reported workplace deaths at Escondida and Peak Downs, with investigations underway.

At Escondida in Chile, BHP approved US$800 million in advance funding for engineering, permitting and preparations for a new concentrator. That approval should not be read as confirmation that the entire expansion is built or producing.

BHP retained its fiscal 2027 copper production guidance of 1.65 million to 1.80 million tonnes. Guidance is a company forecast.

Regional analysis: The report highlights supply risks and the long preparation needed for copper growth. It does not establish a particular copper-price response or additional orders for Northwestern Ontario suppliers.

What RockHawks should watch next

The immediate watch is Highland Valley Copper: further bargaining updates and any measured production impact. At Tower Mountain, follow-up assays and future resource disclosures will help test the company’s geological interpretation.

For project developers and suppliers, look for approved budgets, financing closings and awarded contracts. For communities, keep environmental obligations and Indigenous agreements in view alongside investment figures. A company’s future plans provide a starting point for reporting; completed milestones provide stronger evidence of what is happening on the ground.