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Message: Teck Announces Sale of Carrapateena Project

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Teck Announces Sale of Carrapateena Project

posted on Mar 08, 11 06:20PM (Log in to use the IP Check tool) ^[?]

Press Release Source: Teck Resources Limited On Tuesday March 8, 2011, 5:13 pm EST

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 8, 2011) - Teck Resources Limited ("Teck", TCK.A and TCK.B, NYSE: TCK) announced today that it has entered into an agreement to sell its interest in the Carrapateena Project in South Australia to an affiliate of OZ Minerals Ltd. Teck expects to receive cash proceeds on closing of approximately US$134 million and will have the right to receive up to approximately US$25 million on the occurrence of certain specified events relating to production from the Carrapateena property. Closing of the transaction is subject to customary conditions, and is expected to occur in the second quarter.

http://finance.yahoo.com/news/Teck-Announces-Sale-of-ccn-1205443518.html?x=0&.v=1

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