Trekor Metals is advancing its Yellowhead copper project in British Columbia, a large-scale development expected to produce approximately 4.4 billion pounds of copper over a 25-year mine life while potentially qualifying for approximately $540 million under Canada’s Clean Technology Manufacturing Investment Tax Credit.
According to the Yellowhead Technical Report, the project is expected to produce an average of 178 million pounds of copper annually over its 25-year life at an average C1 cost, net of by-product credits, of $1.90 per pound.
Production is expected to be even higher during the project’s initial years. During its first five years, Yellowhead is projected to produce an average of 206 million pounds of copper annually at an average C1 cost of $1.62 per pound.
The deposit also contains meaningful precious-metals by-products. Trekor projects approximately 282,000 ounces of gold and 19.4 million ounces of silver production over the mine’s life. The proposed concentrator is designed to process 90,000 tonnes of ore per day with approximately 90% copper recovery.
Yellowhead’s economic analysis calls for approximately $2 billion of initial capital expenditures and estimates a $2 billion after-tax net present value using an 8% discount rate. The projected after-tax internal rate of return is 21%, with an estimated payback period of 3.3 years.
A potentially significant portion of that upfront investment could be offset through Canadian incentives. Trekor expects Yellowhead to be eligible for the federal Clean Technology Manufacturing Investment Tax Credit, which could reimburse 30%, or approximately $540 million, of eligible initial capital expenditures during the project’s first year of operation.
The project is also advancing through the regulatory process. British Columbia added Yellowhead to its list of priority major projects in April 2026. Trekor subsequently submitted its Detailed Project Description in July after incorporating additional technical work and feedback from communities and Indigenous groups.
On July 30, the British Columbia Environmental Assessment Office issued a decision allowing Yellowhead to proceed to an environmental assessment. The project is moving into process planning, which will establish the scope, information requirements and participants in the assessment.
An economic impact study released in July estimated that construction and operation of Yellowhead could generate approximately $27 billion of value-added GDP and $7 billion of total government payments.
Yellowhead represents a longer-term growth opportunity alongside Trekor’s existing Gibraltar mine and the ongoing ramp-up of Florence Copper. Trekor generated $331 million in second-quarter revenue, $125 million of adjusted EBITDA and $183 million of operating cash flow.
KEY QUOTES:
“Yellowhead permitting activities continue to advance steadily. Last week, another notable milestone was achieved as the BC Environmental Assessment Office issued a positive Readiness Decision, which confirms the project is ready to move into process planning and the next phases of the Environmental Assessment.”
Stuart McDonald, President and CEO of Trekor Metals
