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Market: TSX
Sector: General Mining
Epic: TSX:TCK
News: Latest news
Web Site: Teck Resources
Other Articles: 22-04-201006-04-201009-02-2010

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Thursday September 02, 11:00Baobab Resources identifies distinct ore domain at Tete’s South Zone

Baobab MD Ben James said the latest drilling results from the Tete project's South Zone characterise a distinct, higher mass recovery, ore domain.

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Thursday September 02, 08:15Indonesia edges closer toward uranium mining and nuclear power

After nearly five decades of national debate on the issue, Indonesia's central government may finally be ready to develop a national nuclear policy, which may lead to domestic uranium mining.

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Wednesday September 01, 01:25Green Dragon Gas reports significant growth as China’s thirst for energy continues

China's thirst for energy resources has continued with an increased focus on domestic supplies of gas, Green Dragon Gas chairman Randeep Grewal said today. In the company's interim results, [...]

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Teck Resources

Teck Resources

Teck Resources (formerly Teck Cominco) is Canada’s largest diversified mining, mineral processing and metallurgical company. The company produces significant quantities of copper, metallurgical coal and zinc, and is a significant producer of gold, molybdenum and specialty metals, with interests in several oil sands development assets.

The Company owns, or has interests in, 16 operating mines in Canada, the USA, Chile and Peru, as well as one metallurgical complex in Canada. The Company is actively exploring in over 15 countries throughout the Americas, Asia Pacific, Europe and Africa.

Monday, April 06, 2009

Royal Gold pays US$300 mln for gold from Teck Cominco's Andacollo mine in Chile

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Precious metals royalty company Royal Gold Inc (TSX: RGL) is paying a Chilean unit of Teck Cominco Ltd (TSX: TCK) US$300 million in cash and shares to receive the bulk of the gold production from the Andacollo mine in Chile.

Under the definitive agreement with Compania Minera Carmen de Andacollo, which controls 90 percent of the mine, Royal Gold will receive 75 percent of the gold produced from the sulfide portion of the Andacollo deposit until 910,000 payable ounces of gold have been sold, after which Royal Gold will receive 50 percent of all future payable gold production from the property.

Royal Gold is paying US$100 million in cash and approximately 4.5 million common shares, which are currently valued at around 200 million.

The Andacollo mine has been in production since 1996, producing copper cathodes from the oxide portion of the deposit. A mill and flotation circuit to produce copper and gold from the sulfide portion of the deposit, known as the Hypogene project, is currently under construction.

Teck expects the Hypogene project to begin initial gold production in late calendar 2009 and reach commercial production in the first half of calendar 2010.

Over the first 10 years of the mine life, Teck expects production will average 53,000 ounces of gold and 76,000 tonnes of copper in concentrate annually.

ENAMI, a Chilean state owned entity dedicated to the promotion and development of small and medium sized mining in Chile holds the remaining 10 percent interest in Andacollo.

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