Teck seeks copper
mining acquisition as weak prices open opportunities
Carl
Surran, SA News Editor
- Teck Resources (NYSE:TCK) is looking
to buy a copper mine, CEO Don Lindsay tells Bloomberg,
expecting "a couple of things... might shake loose" thanks to
the current slump in prices that puts pressure on some rivals to sell.
- Despite current weak prices, the CEO sees a significant
production deficit emerging by 2017 and solid demand, while regulatory
concerns and other hurdles make it difficult to build new mines.
- "We have a lot of faith that the copper market’s
going into deficit and that it’s going to be a very high return period for
several years," Lindsay says.
Quelle: bigcharts.com
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