December 4, 2018 / 10:11 AM / 7 days ago

Teck Resources announces $1.2 bln Quebrada Blanca deal

Dec 4 (Reuters) - Diversified miner Teck Resources Ltd said on Tuesday that Japan’s Sumitomo Metal Mining Co Ltd and Sumitomo Corp have agreed to buy a 30 percent indirect interest in Compañia Minera Teck Quebrada Blanca S.A. for $1.2 billion.

After the transaction, Teck’s Quebrada Blanca Phase 2 project in Chile will be owned 60 percent by Teck, 30 percent by Sumitomo Metal Mining and Sumitomo Corp and 10 percent by Enami, a Chilean state agency, the statement added.

Reporting by Kanishka Singh in Bengaluru; Editing by Shinjini Ganguli

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