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Teck completes sale of Fort Hills interest for $1 billion

Kitco Media
By Vladimir Basov
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(Kitco News) - Teck Resources (TSX: TECK.A and TECK.B) (NYSE: TECK) announced yesterday that it has completed the sale of its 21.3% interest in the Fort Hills Energy to Suncor Energy and TotalEnergies EP.
 
In a statement, the company said it received aggregate cash proceeds of approximately $1 billion and does not anticipate any tax payable on the disposition.

Fort Hills is located in Alberta’s Athabasca region, 90 kilometres north of Fort McMurray. Fort Hills is an open-pit truck and shovel oil sands mine.

Teck is one of Canada’s leading mining companies with major business units focused on copper, zinc, and steelmaking coal.

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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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