TECK News & Events

Teck Resources Limited, Canada Growth Fund, and Natural Resources Canada's Canada Critical Minerals Accelerator announced that they have signed a Strategic Investment Agreement to support expanding production capacity for germanium, gallium, and antimony at Teck's Trail Operations smelting and refining complex in British Columbia. Trail is one of the world's largest fully integrated polymetallic smelting and refining complexes. It produces nineteen products and has a long history of critical minerals production. The Agreement establishes the commercial framework for an equity-like investment by CGF of up to $400M directly into the facility, as part of an up to $850M potential total investment by Teck to sustain and enhance critical minerals processing capacity at Trail Operations from a portfolio of feed sources. The Agreement also provides for the establishment of an offtake structure with the Government of Canada, including offtake rights for a portion of future germanium, antimony and gallium produced by Trail. Realization of the commercial arrangements contemplated by the Agreement remains subject to certain conditions, including the negotiation and execution of definitive documentation and satisfaction of applicable approvals.

Teck Resources (TECK) announced that it has mailed a letter of transmittal and election form to each registered holder of Class A common shares and Class B subordinate voting shares of Teck in connection with the previously-announced court-approved plan of arrangement under section 192 of the Canada Business Corporations Act, involving, among other things, the merger of equals of Anglo American plc (NGLOY) and Teck. The Letter of Transmittal explains how to exchange Teck Shares for the consideration under the Merger and, for eligible Canadian Teck shareholders, how to elect to receive the exchangeable share consideration under the Merger. Under the Merger, each Teck Share will be exchanged for 1.3301 ordinary shares of Anglo American, or, for eligible Canadian shareholders who so elect, the Exchange Ratio of exchangeable shares of Anglo Teck Exchangeco Limited.