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Market: TSX
Sector: General Mining
Epic: TSX:TCK
News: Latest news
Web Site: Teck Resources
Other Articles: 09-02-201005-01-201030-09-2009

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Wednesday March 17, 09:01SmartFocus, Amphion Innovations and National Milk Records confirmed for March 18 Forum

The presentations will start at 6:00pm and finish at approx 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception.

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Thursday March 18, 12:26Healthcare & Biotech companies to present at "Ultimate Healthcare & Biotechnology Event 2010”

We have a cracking line-up for March 24, as we return to Healthcare & Biotech sector at our One2One Investor Forum. Seats are limited, to avoid disappointment, register now.

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Monday March 15, 09:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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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.

Friday, July 03, 2009

Teck Resources raises C$1.74 bln in private placement to China’s CIC

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Teck Resources Ltd (TSX, NYSE: TCK) said China Investment Corp has agreed to buy 101.3 million Class B subordinate voting shares of Teck for C$17.21 each, raising C$1.74 billion for Teck and giving CIC an indirect holding of 17.2 percent equity and a 6.7 percent voting interest in Teck.

Teck will use the money to reduce outstanding bank debt.

Upon completion of the transaction, Teck's Class A shareholders as a group will hold a 61.8 percent voting interest in Teck, with Temagami Mining Co Ltd holding a 28.5 percent voting interest.

Teck president and CEO Don Lindsay said: "This transaction will have an immediate and very positive effect on Teck's balance sheet, and represents an attractive opportunity for Teck to establish a relationship with a major Chinese financial investor, with a deep understanding of China, the world's largest consumer of our principal products."

CIC has advised Teck that it is acquiring the Class B shares for investment purposes as a long- term passive financial investor and has agreed to hold the purchased shares for at least one year following closing.

CIC has also agreed that after the one year hold period, it will not sell the purchased shares to a participant in the worldwide mining, metals or minerals industries, or to a material customer of Teck.

CIC is investing through a special purpose vehicle, Fullbloom Investment Corp. The transaction is expected to close around July 14 2009.
 

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