Proactive investorsLogo Proactive Investors UK Website

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

RSS - Subscribe to the News Today on Proactive UK ▼

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.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive AU ▼

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.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive CN ▼

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, [...]

FULL ARTICLE ►
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

company news image

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.
 

AddThis Feed Button
Register here to be notified of future Teck Resources articles.

Other Teck Resources articles


Other Teck Resources news

More news ►

Investors interested in Teck Resources recently viewed


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.