Teck Announces Waneta Dam Sale Closing

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Mon, Mar 8, 2010

Coal Company News
Post by Researcher , Coal Researcher

Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) reported the closing of the sale of a one-third interest in the Waneta Dam to BC Hydro for C$825 million.

The press release is quoted as saying:

Teck will apply the net proceeds of the transaction along with US$300 million of cash on hand to reduce the outstanding balance on its term loan to approximately US$800 million. Teck’s cash balance following the debt repayment will be approximately C$900 million. Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, metallurgical coal, zinc and energy.

Click here to access the entire press release

Click here to access Teck Resources Corporate Site

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