Metall boosts Teck interest

Copper-producer Metall Mining (TSE) has increased its direct and indirect voting interest in Teck (TSE) to 33.5% from 28.5%.

In a private transaction, Metall acquired 273,500 A shares of Teck, bringing to 734,500 its holdings of A shares in the company. Metall also owns 48.8% of Temagami Mining, the holding company which controls Teck. (A company controlled by the Keevil family owns the other 51.2% of Temagami.) Temagami owns 2.15 million A shares of Teck.

With its latest acquisition, Metall will own (directly and indirectly) almost 1.8 million A shares of Teck; it also owns more than five million B shares (subordinate voting) of Teck.