Teck Cominco Limited

Teck Cominco Limited

April 08, 2009 15:03 ET

Teck Announces Sale of Kinross Shares

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 8, 2009) - Teck Cominco Limited (TSX: TCK.A and TCK.B, NYSE: TCK) announced today that it has sold approximately 5.6 million common shares of Kinross Gold Corporation acquired in January 2009 on the sale of Teck's sixty per cent interest in the Lobo Marte property in Chile. Teck received US$18 per share, or gross proceeds of approximately US$101 million. This brings Teck's gross proceeds on the sale of Lobo Marte to approximately US$141 million. Teck will record a pre-tax gain of Cdn$171 million on the Lobo Marte transaction and the sale of shares, of which Cdn$160 million was recorded in the first quarter.

About Teck

Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, metallurgical coal, zinc, gold and energy. 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. Further information about Teck can be found at www.teck.com.

Contact Information

  • Teck Cominco Limited
    Greg Waller
    Vice President, Investor Relations & Strategic Analysis
    (604) 699-4014
    Email: greg.waller@teck.com