Toronto-based Metall Mining (TSE) has completed the purchase from MIM Holdings of 301,400 A shares and about 3.4 million B (subordinate voting) shares of Teck (TSE), pursuant to a September agreement.
Metall now owns directly 461,000 A shares and more than 10 million B shares of Teck.
MIM (Canada) said it acquired from Metall about 3.4 million shares of Cominco (TSE), 520,176 shares of Nunachiaq and about $34.9 million principal amount of indebtedness owed by Nunachiaq to Metall.
MIM (Canada), with the additional Cominco shares, now has about an 8.7% interest in Cominco, and a 50% interest in Nunachiaq. (Teck owns the other 50% interest in Nunachiaq.) Nunachiaq, through wholly owned subsidiary Pine Point Mines, has an approximate 28% interest in Cominco.
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