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By JOHN MORITSUGU Teck Resources Ltd. agreed to sell a 17% stake to China Investment Corp. for about 1.74 billion Canadian dollars (US$1.5 billion). The Vancouver, B.C., mining company said it will use proceeds of the share said to reduce bank debt. It said the transaction "represents an attractive opportunity for Teck to establish a relationship with a major Chinese financial investor, with a deep understanding of China, the world's largest consumer of our principal products." Under the terms of the deal, Teck is selling 101.3 million Class B subordinate-voting shares at C$17.21 a share to China Investment Corp., giving the Chinese company a 17.2% equity interest and a 6.7% voting interest in Teck. Teck said CIC has advised that it is acquiring the Teck shares for investment purposes as "a long-term passive financial... [read full story]
CHICAGO----Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets.
Stock quotes in this article: ) is reportedly about to receive a bid for a big Australian nickel mine, developed and operated so poorly by the company that it had to shut it down earlier this year. Two mining outfits -- the...
ATHENS, GREECE--(Marketwire - Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (NASDAQ:SBLK - News), today announced that it has extended the expiration date of its 5,916,150 outstanding warrants to purchase shares of...
By June Frasier / Chronicle contributor Since the founding of Cumberland County Habitat for Humanity 13 years ago, 44 houses have been built for families in need. John Zanichelli, has accepted the position of president for the...
