Teck reaches milestone at Quebrada Blanca copper mine

Teck reaches milestone at Quebrada Blanca copper mine

Corporate & Sovereign Strategy Canada Chile

Vancouver-based miner Teck received environmental approval for phase II of its Quebrada copper mine project in Chile. The $4.8bn project will extend the life of the mine for a minimum of 25 years. The mining firm will pay $60m as part of a three-part acquisition of a 13.5% stake from Compañía Minera Quebrada Blanca. Teck agreed to pay $162.5m in April to increase its stake at Quebrada Blanca to 90% in three payments; a $52.5m payment in cash upon closing, $50m upon the start of production and th

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