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Teck Cominco says actively looking at gold options

TORONTO
Tue Jul 29, 2008 3:56pm EDT

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TORONTO (Reuters) - Canadian miner Teck Cominco (TCKb.TO) is actively looking at options to restructure its gold assets, a company spokesman said on Tuesday.

Teck has long said it would like to change the form of ownership of its gold assets, for which it believes it does not receive full value on the stock market.

Company officials have said that could include a sale or spinoff or other options, but that no deal would be likely until its 40-percent-owned Pogo gold mine in Alaska is running at full speed.

"Pogo's generally up to speed now, so we're actively looking at the options," said spokesman Doug Horswill. Teck's gold portfolio includes stakes in three mines, two advanced development projects, and several other advanced exploration properties.

(Reporting by Cameron French; Editing by Peter Galloway)


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