Teck to spend in Alaska, Mexico

Article Abstract:

Teck Corp. has made public its intent to scale down its 33% ownership in the $2.2-billion Antamina copper-zinc mine in the Peruvian Andes to 25%. The move by Teck is aimed to free as much as $176 million in a move to support its other projects in Alaska and Mexico. The decision to reduce its stake in the mine also increases Rio Algom Ltd. and Noranda Inc.'s ownership in Antamina to 37.5% each. Teck President Norman Keevil stated that the 25% interest in the copper-zinc mine should help the firm sustain a stronger balance sheet.

Comment:

Makes public its intent to scale down its 33% ownership in the $2.2-bil Antamina copper-zinc mine in the Peruvian Andes to 25%

Peru, Metal Ores, Metal Ore Mining, Mining industry, Teck Corp., Ores, Article

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Fifth bid made in drawn-out auction for Groupe Forex

Article Abstract:

Portland, OR-based Louisiana-Pacific Corp made a fifth offer for Groupe Forex Inc, upping the latest bid to C$33 per share, or C$760 million, in an effort to beat rival bidder Boise Cascade Corp. The latest bid from Louisiana-Pacific is C$1 higher than the C$32-per-share offer, or C$736 million, made by Boise Cascade on Aug 6, 1999. Aside from the cash offer, Boise Canada also offered stocks in Boise and installments notes to acquire Groupe Forex, a leading producer of oriented strandbroard (OSB).

United States, Canada, Acquisitions & mergers, Reconstituted Wood Product Manufacturing, Oriented Strand Board, Groupe Forex Inc.

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