.
MergerLinks Header Logo

New Deal


Announced

Sumitomo Corp to acquire 30% stake in Quebrada Blanca copper mine expansion from Teck Resources Ltd for $1.2bn

Synopsis

Sumitomo Corp and Sumitomo Metal Mining reached an agreement to acquire 30% stake in Quebrada Blanca copper mine expansion from Teck Resources Ltd for $1.2bn. Deal values copper mine expansion at $40bn. Once the deal is completed, Teck will own 60 percent of the Quebrada Blanca project and Chilean state agency ENAMI will hold the remaining 10 percent. “This partnership significantly de-risks Teck’s investment in the project, enhances our project economics and preserves our ability to continue to return capital to shareholders and reduce bonds currently outstanding,” said Teck’s Chief Executive, Don Lindsay.

Show Details & Financials

Market Context

Search a database of more than 250,000 verified dealmakers

Receive automated updates on global transactions

Follow the activity, relationships and transactions of top dealmakers

No credit card required

© COPYRIGHT 2024 MERGERLINKS LIMITED.

ALL RIGHTS RESERVED.

15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.

CONTACT US