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Market: TSX, NYSE
Sector: General Mining
EPIC: TCK.B
Latest Price: 41.60  (-2.12% Descending)
52-week High: 63.22
52-week Low: 28.69
Market Cap: 24,189.70M
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Teck Resources
www.teck.com

Teck Resources 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.

 

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Teck Resources says CMA will expand operations at Antamina copper-zinc mine in Peru

5th Jan 2010, 4:14 pm
Teck Resources says CMA will expand operations at Antamina copper-zinc mine in Peru

Teck Resources (TSX & NYSE: TCK) announced today that the Antamina Mine, in Peru, would undergo “a major expansion”. Teck holds a 22.5% interest in the mine, with the remainder of the project held by Compania Minera Antamina ("CMA").


The mine expansion will increase ore throughput by approximately 38% to 130,000 tonnes per day, and annual production of copper and zinc by approximately 30% on completion in late 2011.


“CMA will invest US$1.288 billion to expand its mining and processing facilities. Teck expects its share of CMA distributions to be reduced by no more than approximately US$100 million in total during 2010 and 2011 as construction progresses. Teck's share of operating profit after depreciation from Antamina for the last 12 months to September 30th, 2009 was C$231 million.”


Ore reserves at Antamina were increased by approximately 75% in 2008, which extended the mine life out to 2029.

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