Teck Resources has agreed to sell to a subsidiary of Conuma Resources all the assets and liabilities of the Quintette steelmaking coal mine in north-eastern British Columbia. Conuma will pay Teck CAD 120 million in cash in staged payments over the next 36 months, and an ongoing 25% net profits interest royalty, first payable after Conuma recovers its investment in Quintette.Closing of the transaction, expected to occur in the first quarter of 2023, is subject to receipt of regulatory approvals and other customary conditions.Quintette has been on care and maintenance since 2000.
Teck Resources has agreed to sell to a subsidiary of Conuma Resources all the assets and liabilities of the Quintette steelmaking coal mine in north-eastern British Columbia. Conuma will pay Teck CAD 120 million in cash in staged payments over the next 36 months, and an ongoing 25% net profits interest royalty, first payable after Conuma recovers its investment in Quintette.Closing of the transaction, expected to occur in the first quarter of 2023, is subject to receipt of regulatory approvals and other customary conditions.Quintette has been on care and maintenance since 2000.
