April 4, 2018 / 4:01 PM / 20 days ago

BRIEF-Teck Acquires Quebrada Blanca Minority Interest

April 4 (Reuters) - Teck Resources Ltd:

* TECK ACQUIRES QUEBRADA BLANCA MINORITY INTEREST

* ACQUIRED AN ADDITIONAL 13.5% INTEREST IN COMPAÑÍA MINERA TECK QUEBRADA BLANCA S.A.

* ACQUISITION OF ADDITIONAL 13.5% INTEREST IN COMPAÑÍA MINERA TECK QUEBRADA BLANCA S.A. BRINGS CO’S INTEREST IN QBSA TO 90%

* QB2 IS IN FINAL STAGES OF PERMITTING, AND PROJECT SANCTION DECISION IS NOT EXPECTED BEFORE SECOND HALF OF 2018

* ACQUISITION BRINGS TECK’S INTEREST IN QBSA TO 90%

* DEAL PURCHASE PRICE CONSISTS OF US$52.5 MILLION PAID IN CASH ON CLOSING

* DEAL‍ PRICE INCLUDES ADDITIONAL PAYMENT OF US$60 MILLION ON ISSUANCE OF APPROVAL OF SOCIAL & ENVIRONMENTAL IMPACT ASSESSMENT FOR QB2 PROJECT

* DEAL PRICE ALSO CONSISTS $50 MILLION PAYABLE WITHIN 30 DAYS OF COMMENCEMENT OF COMMERCIAL PRODUCTION AT QB2 PROJECT Source text for Eikon: Further company coverage:

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