Fortescue up 5% on report Teck buying shares

Shares in Australia's Fortescue Metal Group rose 5% on Monday on a report Canadian metals and coal miner Teck Resources may be building a stake in Australia's third-largest iron ore producer. Talk of Teck positioning itself in Fortescue comes...

China's CIC may invest up to $25bn in Indonesia

China Investment Corp (CIC) may invest up to $25-billion in Indonesia, an Indonesia minister said on Tuesday, potentially providing a huge boost to foreign direct investment and improving the country's hopes of an investment-grade rating....

No need for acquisitions, but dividend 'high priority' – Teck CEO

Vancouver-based Teck Resources does not see a need to pursue acquisitions, although it would be in a financial position to do so, CEO Don Lindsay said on Wednesday. “Never say never, but we don't feel that there is much of a need” for...

Hong Kong a 'natural choice' for Mongolian IPOs, PM says

Hong Kong is a natural choice for Mongolian enterprises to go public as the resources-rich country develops its vast untapped mineral wealth, the Mongolian prime minister said on Monday. Mongolia is attracting attention from global investors...

China Sci-Tech to buy Chariot Resources for C$244,5m

China Sci-Tech Holdings has agreed to buy TSX-listed Chariot Resources for C$0,67 a share, or a total of C$244,5-million, the Canadian firm announced on Monday. The news represents the latest in a list of both public and private-owned Asian...

Teck earned C$411m in Q4, helped by base metals

Vancouver-based Teck Resources posted a C$411-million net profit for the fourth quarter of 2009, compared with a C$607-million loss a year earlier, after higher base-metal prices offset weaker coal prices and the effects of a stronger Canadian...

BC regulator approves Teck sale of Waneta Dam stake

The British Columbia Utilities Commission has approved Teck Resources' sale of a one-third interest in the Waneta Dam to the British Columbia Hydro and Power Authority for C$825-million. The commission concluded that the expenditure proposed by...

China's Jilin Jien, Canadian junior take shot at Canadian Royalties

Chinese exploration, mining, smelting, refining and chemicals group Jilin Jien Nickel Industry Co. will team up with Canadian junior Goldbrook Ventures, in an offer for explorer Canadian Royalties, the firms announced on Friday. Canadian...

Teck ramps up zinc output, settles coal pricing

Vancouver-based Teck Resources had more good news for the market on Thursday, announcing that it will return its Trail smelter, in British Columbia, to full production from September 1. The company has also settled coal contracts with most of its...

Teck closes sale of Pogo stake

Vancouver-based Teck Resources has completed the sale of its interest in the Pogo gold mine, in Alaska, for $245-million, the firm reported on Wednesday. The group, which has been selling noncore assets for cash to repay debt, announced in April...

Prospective partners woo Teck for stake in coal unit

Vancouver-based Teck Resources may still sell a 20% stake in its coal unit, but only to a partner that brings some strategic benefit of its own to the table, and for “a very full and fair price”, CEO Don Lindsay said on Friday. And after...

Teck to erase more debt thanks to C$1,74bn Chinese investment

Canadian diversified miner Teck Resources has announced the latest, if somewhat unexpected, milestone on the road to improving its balance sheet by paying off bank debt, and ultimately returning the group to investment grade credit rating....