LATIN AMERICA ROUNDUP — Teck acquires Arauco shares

Under a share purchase warrant, Teck (TSE) has acquired 31,600 shares of Arauco Resources (VSE), a junior company exploring properties in southern Chile and Argentina.

The shares were acquired for “investment purposes.” Teck now holds 731,600 shares of Arauco, representing 15.24% of the junior’s issued share capital. It may acquire an additional 2.8 million shares by early 1995. If the warrant is fully exercised, Teck would hold 47.63% of Arauco’s issued shares.