Teck Resources Acquires 27 Million More Horizonte Minerals Shares

By Midnight Trader,  June 19, 2012, 12:28:11 PM EDT

Teck Resources Ltd. (TCK.B.TO, TCK) announced it has acquired an additional 27,293,747 ordinary shares of Horizonte Minerals plc (HZM.TO) for 7.25 pence per ordinary share. This was part of a broader private placement of 71,986,190 new ordinary shares conducted by Horizonte.

Teck now holds 150,573,987 ordinary shares, representing about 41.8% of the outstanding ordinary shares of Horizonte.

Horizonte is a mining exploration and development company whose projects include the Araguaia nickel project in Brazil.

Teck shares are up 42 cents, or 1.2%, at C$33.74; Horizonte Minerals shares are unchanged at 14 cents.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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