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Teck and Agnico Eagle Announce Agreement on the San Nicolás Copper-Zinc Project located in Zacatecas, Mexico
Teck and Agnico Eagle Announce Agreement on the San Nicolás Copper-Zinc Project loca...
About this update from Teck Resources Limited Class A
[{"type":"text","content":"\n \n \n \n Teck and Agnico Eagle Announce Agreement on the San Nicolás Copper-Zinc Project located in Zacatecas, Mexico\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER\n \n , BC and TORONTO\n \n ,\n \n \n Sept. 16, 2022\n \n \n /CNW/ - Agnico Eagle Mines Limited (TSX: AEM) (NYSE: AEM) (\"Agnico Eagle\") and Teck Resources Limited (TSX: TECK.A) (TSX: TECK.B) (NYSE: TECK) (\"Teck\")\n \n announced today that Agnico Eagle has agreed to subscribe for a 50% interest in Minas de San Nicolás, S.A.P.I. de C.V. (\"MSN\"), a wholly-owned Teck subsidiary which owns the San Nicolás copper-zinc development project located in\n \n Zacatecas, Mexico\n \n (the \"Transaction\"). As a result of the Transaction, Teck and Agnico Eagle will become 50/50 joint venture partners at San Nicolás.\n \n \n \n \"San Nicolás is a high-quality project, located in a leading mining jurisdiction, with high grades, extremely competitive capital intensity, and first quartile costs,\" said\n \n Don Lindsay\n \n , President and CEO of Teck. \"The opportunity to add the operating and development experience of Agnico Eagle should generate substantial benefits for the project including for all stakeholders throughout the project life cycle.\"\n \n \n \"This is a unique opportunity to create a long-term partnership between two high quality mining companies working together to de-risk and optimize a world class VMS deposit in a premier mining jurisdiction,\" added\n \n Ammar Al-Joundi\n \n , President and CEO of Agnico Eagle. \"Agnico Eagle's project development, permitting and construction experience in\n \n Mexico\n \n , combined with Teck's base metals expertise, operating excellence and marketing leadership, are complementary skillsets and will contribute to the timely and successful development and operation of San Nicolás.\"\n \n \n \n Transaction Highlights\n \n \n \n \n Agnico Eagle will subscribe for\n \n US$580 million\n \n of MSN shares, giving Agnico Eagle a 50% interest in MSN.  The subscription pr...