Teck sells stake in Chilean copper mine

Teck sells stake in Chilean copper mine

M&A Project & Infrastructure Finance Chile Canada Japan

Canada's Teck Resources said it has agreed to sell 30% of the Quebrada Blanca mine expansion project in northern Chile to Japan's Sumitomo for $1.2bn. Sumitomo will pay $800m upon closing and make $400m in matching contributions as the funds are needed to develop the project, Teck said in a statement. Teck also said that Sumitomo will pay an additional $50m if the expansion project meets a production target of 154,000 tonnes per day by the end of 2025. The Japanese trading company can also take

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