https://www.miningweekly.com

Teck buys Goldcorp’s 21% stake in San Nicolás project, Mexico

29th June 2017

By: Henry Lazenby

Creamer Media Deputy Editor: North America

     

Font size: - +

VANCOUVER (miningweekly.com) – Canadian diversified miner Teck Resources has agreed to buy Goldcorp’s 21% interest in the San Nicolás copper/zinc project, in Mexico’s Zacatecas state, for $50-million.

The transaction will fully consolidate Teck’s ownership of the project and is part of Goldcorp’s ongoing strategy to pare noncore assets in pursuit of portfolio optimisation and debt repayment.

The transaction is subject to customary closing conditions and is expected to close in the third quarter of this year.

Teck in March launched its ‘Project Satellite’ initiative, the focus of which is to surface value from five substantial base metals assets – Zafranal (Peru), San Nicolás, Galore Creek, Schaft Creek (both in British Columbia) and Mesaba (in Northern Minnesota).

The miner said its approach is to work with existing and potentially new partners on “appropriate” and “prudently funded” work to advance engineering and design, as well as social and environmental activities. It suggested that value capture could be achieved through various commercial or development options, including full divestment, further investment by Teck, partnering, vend-in or public offering.

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION