Teck asset sales may include met coal
Dec 11, 2008 | 11:43 AM
| Mick Bowen
Teck Cominco Ltd., Vancouver, British Columbia, could include minority stakes in metallurgical coal operations among possible asset sales late next year.
"We're going to look at refinancing in the fall, but in the event refinancing is not there, we'll consider asset sales and we could sell a minority stake in our coal business," Gregory Waller, vice president of investor relations and strategic analysis, told AMM.
Teck currently gets 23 percent of its revenue from coal but expects that proportion to rise to 50 percent in the next 12 months after completing the acquisition of Fording Canadian Coal Trust in October for Canadian $14.1 billion ($11.2 billion) in cash and shares and assuming full control of Elk Valley Coal Corp. Fording previously owned 60 percent of Elk Valley and Teck had 40 percent.....
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