Deals
Winning Teck’s Copper Mine Prize May Come Down to More Than Cash
- Next bids on QB2 copper project are expected in coming weeks
- Chilean project could be in top-5 projects in world: Lindsay
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With the second round of bids to secure a piece of Teck Resources Ltd.’s $4.7 billion copper expansion expected in the coming weeks, victory may come down to more than price.
Teck, which owns 90 percent of Quebrada Blanca in northern Chile, would like to sell a 30 to 40 percent stake to an outside investor. With the copper market widely forecast to go into deficit as soon as this year and the number of attractive new mine projects limited worldwide, interest in the sale is expected to be high, especially among Asian trading houses and existing mining companies.