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BRIEF-Teck announces silver streaming agreement with Franco-Nevada

Published 2015-10-07, 06:13 a/m
© Reuters.  BRIEF-Teck announces silver streaming agreement with Franco-Nevada
TECK
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Oct 7 (Reuters) - Teck Resources TCKb.TO :
* Announces silver streaming agreement with Franco Nevada-
* Says Teck holds a 22.5% interest in compania minera antamina s.a. ("cma")
which owns and operates antamina
* Franco Nevada-will make upfront payment of $610 million to Teck, will pay 5%
of spot price at time of delivery for each ounce of silver
* Says entered into a long-term streaming agreement with a subsidiary of Franco
Nevada Corporation-
* Says Teck will deliver silver to Franco Nevada-equivalent to 22.5% of payable
silver sold by cma
* Says after 86 million ounces of silver have been delivered under the
agreement, the stream will be reduced by one third

* Source text for Eikon ID:nMKWBnWv9a

* Further company coverage TCKb.TO

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