{"id":657547,"date":"2018-04-04T15:50:19","date_gmt":"2018-04-04T15:50:19","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=657547"},"modified":"2018-04-04T15:50:19","modified_gmt":"2018-04-04T15:50:19","slug":"teck-ups-stake-in-chile-quebrada-blanca-copper-mine-in-162-5m-deal-4","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=657547","title":{"rendered":"Teck ups stake in Chile Quebrada Blanca copper mine in $162.5m deal"},"content":{"rendered":"

By analyst<\/a><\/span> <\/p>\n

By Cecilia Jamasmie<\/a><\/span> <\/p>\n

Canada’s largest diversified miner Teck Resources (TSX:TECK.A | TECK.B)(NYSE:TCK) said Wednesday<\/a> it had increase to 90% its stake in Compa\u00f1\u00eda Minera Teck Quebrada Blanca, which main asset is the namesake copper mine in Northern Chile.<\/p>\n

The Vancouver-based miner said the deal, worth $162.5 million, simplifies the ownership of Quebrada Blanca, giving Teck additional flexibility with respect to financing options for the planned expansion of the project, known as \u201cPhase 2\u201d.<\/p>\n

The mine is nearing the end of its life and Teck is expected to soon make a decision on whether to proceed with a $4.7 billion, second-phase development.<\/p>\n

\u201cQuebrada Blanca Phase 2 is a high quality, long-life asset in a low risk jurisdiction that will operate through multiple price cycles at a low-cost, substantially increase Teck’s copper production, and generate significant value,\u201d the company’s President and CEO, Don Lindsay, said in the statement<\/a>.<\/p>\n

The transaction consists of $52.5 million paid in cash on closing, an additional payment of $60 million payable once social and environmental permits have been issued, and a further $50 million payable within 30 days of Quebrada Blanca Phase 2 first production.<\/p>\n

Teck said that it may pay additional amounts if the average copper price exceeds $3.15 per pound in each of the first three years following beginning of production, up to a cumulative maximum of $100 million.<\/p>\n

In February, Teck said a decision on whether or not<\/a> to go ahead with Phase 2 at Quebrada Blanca depended on regulatory approvals<\/a> and market conditions, adding that the company would determine that option in the second half of 2018.<\/p>\n

If Teck decides to move forward with the mine expansion, the development of the hypogene ore body would come at a hefty price tag of some $4.7 billion for major infrastructure investments, including a new concentrator and desalination plant and pipeline. But the mine is nearing the end of its life and the expansion will keep it producing for at least another 25 years.<\/p>\n

Last year, Quebrada Blanca produced 23 million tonnes of copper, generating a $182 million-revenue.<\/p>\n

The post Teck ups stake in Chile Quebrada Blanca copper mine in $162.5m deal<\/a> appeared first on MINING.com<\/a>.<\/p>\n

\u2026read more<\/a> <\/p>\n

Source:: Infomine<\/a><\/p>\n

The post Teck ups stake in Chile Quebrada Blanca copper mine in $162.5m deal<\/a><\/a> appeared first on Junior Mining Analyst<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By analyst By Cecilia Jamasmie Canada’s largest diversified miner Teck Resources (TSX:TECK.A | TECK.B)(NYSE:TCK) said Wednesday it had increase to 90% its stake in Compa\u00f1\u00eda Minera Teck Quebrada Blanca, which main asset is the namesake copper mine in Northern Chile. The Vancouver-based miner said the deal, worth $162.5 million, simplifies the ownership of Quebrada Blanca, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/657547"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=657547"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/657547\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=657547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=657547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=657547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}