Teck Resources Ltd has increased its stake in Compa???-a Minera Teck Quebrada Blanca SA (QBSA) through the purchase of private Chilean firm Inversiones Mineras SA (IMSA), the Canada-headquartered company said.
The acquisition of the 13.5% stake brings Teck's interest in QBSA to 90%. IMSA held 8.5% of the ordinary shares of QBSA and a 5% preferred share interest. Enami, a Chilean state agency, holds the remaining 10% preference share interest in QBSA, which does not require it to fund capital spending. QBSA's principal asset is the Quebrada Blanca phase 2 (QB2) copper development project located in northern Chile. QB2 is in the final...