VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 17, 2013) - Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) ("Teck") announced today it has agreed to purchase from Tembec Inc. approximately 7,150 hectares of private lands located in British Columbia's Elk Valley and Flathead River Valley. While not amenable to mining, the lands have the potential to be used for conservation purposes.
"We will work in cooperation with First Nations, communities and other stakeholders to ensure these lands can be used to protect key wildlife and fish habitat in the Elk Valley and Flathead River Valley now and for the future," said Don Lindsay, President and CEO. "Teck is committed to responsible resource development and we strongly believe that it's possible to have both world-class mining and a world-class environment."
The purchase price for the lands is $19 million and the transaction is expected to close in the fourth quarter of 2013. The land is made up of three blocks:
- Flathead Townsite: Approximately 28 km southeast of Sparwood in the Upper Flathead region (992 hectares).
- Alexander Creek: Approximately 10 kilometres east of Sparwood, along the B.C.-Alberta border (3,098 hectares).
- Grave Prairie: Approximately 7.5 kilometres northeast of Sparwood (3,059 hectares)
Teck will be working with stakeholders in the months ahead to determine potential management and stewardship approaches for the lands.
Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, steelmaking coal, zinc and energy. The pursuit of sustainability guides Teck's approach to business. Teck is building partnerships and capacity to confront sustainability challenges within the regions in which it operates and at the global level. Headquartered in Vancouver, Canada, its shares are listed on the Toronto Stock Exchange under the symbols TCK.A and TCK.B and the New York Stock Exchange under the symbol TCK. More information about Teck can be found at www.teck.com.