Teck Resources Limited announced a $40 million USD equity investment in Bunker Hill Mining Corp. on March 6, aiming to reinforce the North American critical minerals supply chain. The investment will secure a reliable source of high-quality, cost-competitive zinc and lead concentrate from Idaho’s Silver Valley for Teck’s Trail operations in British Columbia.
The funding will support the final development stages of the Bunker Hill Mine, situated approximately 60 kilometers southeast of Coeur d’Alene, Idaho. The mine, founded in 1885, was once a major producer in the Coeur d’Alene silver district. Over its 95 years of operation, Bunker Hill yielded more than 42 million tons of ore, producing 165 million ounces of silver, three million tons of lead, and 1.3 million tons of zinc before ceasing operations in 1991 due to economic and environmental challenges.
Efforts are now underway to restart production. Under the agreement, Bunker Hill’s zinc and lead concentrate will be supplied through an existing offtake agreement, supplementing materials from Teck’s Red Dog Operations and other sources. Teck anticipates that incorporating Bunker Hill feedstock will enhance the efficiency of its Trail smelter and improve its annual EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization).
The investment remains subject to closing conditions, including restructuring transactions, a marketed private placement by Bunker Hill, and approvals from stockholders, regulators, and stock exchanges.
Teck’s Trail Operations is a key producer of refined zinc, lead, and specialty metals. In 2024, the smelter produced 256,000 tonnes of refined zinc, slightly down from 267,000 tonnes the previous year, primarily due to a localized fire in the electrolytic zinc plant.
