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Teck Announces Carmen de Andacollo Gold Stream
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15-22-TR
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July 9, 2015 / Download PDF
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Vancouver, B.C. - Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) announced today that Compañia Minera Teck Carmen de Andacollo ("CDA") has entered into a long-term gold offtake agreement with RGLD Gold AG ("RGLDAG"), a wholly owned subsidiary of Royal Gold, Inc. (NASDAQ: RGLD; TSX: RGL). Teck has increased its cash position by US$162 million as a result of CDA entering into the offtake agreement and terminating a separate royalty agreement with Royal Gold Chile Limitada.
Under the terms of the offtake agreement, RGLDAG made an advance payment of US$525 million to CDA, which has agreed to sell and deliver, on a monthly basis, an amount of gold equal to 100% of the payable gold produced from the Carmen de Andacollo mine until 900,000 ounces have been delivered, and 50% thereafter. RGLDAG will also pay a cash price of 15% of the monthly average gold price at the time of each delivery. The offtake agreement applies to certain mining exploitation concessions currently owned by CDA, any mining concessions acquired within an approximately 1.5 kilometre area of interest and certain other mining concessions that CDA may acquire.
CDA and Royal Gold have also agreed to terminate an earlier royalty agreement. Pursuant to that termination agreement, CDA paid Royal Gold Chile Limitada ("RG Chile") a US$345 million fee in order to terminate the royalty agreement with RG Chile entered into in 2010, under which RG Chile was entitled to royalty payments based on 75% of payable gold produced by CDA up to 910,000 ounces and 50% thereafter. In addition to the termination fee, CDA will make a post-closing payment of approximately US$9 million to RG Chile for royalties payable to the end of June.
Teck holds a 90% interest in CDA and ENAMI, a Chilean State owned entity dedicated to the promotion and development of mining in Chile, holds the remaining 10% interest.
About Teck
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. 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. Learn more about Teck at www.teck.com or follow @TeckResources.
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Investor Contact:
Greg Waller
Vice President, Investor Relations and Strategic Analysis
604.699.4014
[email protected]
Media Contact:
Chris Stannell
Senior Communications Specialist
604.699.4368
[email protected]
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Royal Gold Inc.
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PRODUCTEUR |
CODE : RGLD |
ISIN : US7802871084 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Royal Gold est une société basée aux Etats-Unis D'Amerique. Royal Gold est productrice d'or, d'argent, de cuivre, de plomb et de zinc en USA, au Burkina Faso, au Canada, au Chili, au Mexique, au Nicaragua, en Argentine, en Bolivie et en Guinee, en développement de projets d'argent, de cuivre, d'or, de plomb et de zinc au Burkina Faso, au Canada, au Chili et en Australie, et détient divers projets d'exploration au Canada, en Argentine, en Bulgarie et en Finlande. Ses principaux projets en production sont BALD MOUNTAIN en USA, LIMON, LEEVILLE MINING COMPLEX et GOLDSTRIKE OPEN PIT au Nicaragua, DON MARIO (CERRO PELADO) et ROBINSON (NEVADA) en Bolivie, EL CHANATE, PEÑASQUITO, WHARF, MARIGOLD, DOLORES MINE, MULATOS MINE -ESTRELLA et GOLDSTRIKE UNDERGROUND au Mexique, SIGUIRI en Guinee, TAPARKO au Burkina Faso, MARTHA MINE en Argentine, ANDACOLLO HYPOGENE, TOQUI et ANDACOLLO au Chili et WILLIAMS, TWIN CREEKS, PIPELINE MINING COMPLEX et TROY au Canada, ses principaux projets en développement sont GOLD HILL et PASCUA LAMA au Chili, HOLT MINE & MILL et PINE COVE (MINGS BIGHT) au Canada, BALCOOMA en Australie et BOUROUM au Burkina Faso et ses principaux projets en exploration sont CANADIAN MALARTIC (QUEBEC), GOLDSTRIPE WILLA, MANHATTAN (WHITE CAPS) et CAMP BIRD MINE au Canada. Royal Gold est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 8,2 milliards US$ (7,6 milliards €). La valeur de son action a atteint son plus bas niveau récent le 28 février 1992 à 0,03 US$, et son plus haut niveau récent le 26 avril 2024 à 124,58 US$. Royal Gold possède 65 455 293 actions en circulation. |