MINING REPORTER : Teck sells stake in Chilean copper project to Japan's Sumitomo for US$1.2-billion
Dec 05, 2018 - The Globe and Mail (Canada)
Teck Resources Ltd. is selling a stake in a large Chilean copper project for US$1.2-billion to a Japanese mining company in a deal that will see Canada's biggest diversified miner proceed with a major expansion of its copper business.
On Tuesday, Vancouver-based Teck said its board had approved the US$4.7-billion construction of Quebrada Blanca Phase 2 (QB2) after selling a 30-per-cent share in the project to Sumitomo Metal Mining and Sumitomo Corp.
Teck will put the proceeds raised ...
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