Teck Propelled to Record Gain by Silver Stream as Metals Rebound
- Stream on Teck share in Antamina includes $610 million payment
- Teck climbs as much as 21% in Toronto after announcing deal
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Teck Resources Ltd.’s stock had its best four-day run since at least 1988 as metal prices rebounded and the Vancouver-based miner sold future silver production to bolster its finances.
Canada’s largest diversified miner surged as much as 21 percent and ended up 14 percent at C$8.89 in Toronto after agreeing to sell silver from the Antamina mine in Peru to Franco-Nevada Corp. in a deal that includes a $610 million upfront payment.