September 30, 2016 5:13 PM ET

Metals and Mining

Company Overview of Compañía Minera Teck Carmen de Andacollo S.A.

Company Overview

Compañía Minera Teck Carmen de Andacollo S.A. owns a copper mine. It also owns a copper-gold deposit. Compañía Minera Teck Carmen de Andacollo S.A. was formerly known as Compañía Minera Carmen de Andacollo. The company was founded in 1996 and is based in Las Condes, Chile. Compañía Minera Teck Carmen de Andacollo S.A. operates as a subsidiary of Canada Tungsten (Cayman) Inc.

Piso 24

Avenida Vitacura

Las Condes,  2939

Chile

Founded in 1996

Phone:

56 2 464 5700

Fax:

56 2 464 5794

Key Executives for Compañía Minera Teck Carmen de Andacollo S.A.

Compañía Minera Teck Carmen de Andacollo S.A. does not have any Key Executives recorded.

Compañía Minera Teck Carmen de Andacollo S.A. Key Developments

Compania Minera Teck Carmen de Andacollo Enters into a Long-Term Gold Offtake Agreement with RGLD Gold AG

Teck Resources Limited announced that Compania Minera Teck Carmen de Andacollo has entered into a long-term gold offtake agreement with RGLD Gold AG. Teck has increased its cash position by USD 162 million as a result of CDA entering into the offtake agreement and terminating a separate royalty agreement with Royal Gold Chile Limitada. Under the terms of the offtake agreement, RGLDAG made an advance payment of USD 525 million to CDA, which has agreed to sell and deliver, on a monthly basis, an amount of gold equal to 100% of the payable gold produced from the Carmen de Andacollo mine until 900,000 ounces have been delivered, and 50% thereafter. RGLDAG will also pay a cash price of 15% of the monthly average gold price at the time of each delivery. The offtake agreement applies to certain mining exploitation concessions currently owned by CDA, any mining concessions acquired within an approximately 1.5 kilometre area of interest and certain other mining concessions that CDA may acquire.

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Recent Private Companies Transactions

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No transactions available in the past 12 months.
 

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