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Canada’s Teck May Buy Shares in Australia’s Fortescue Metals Group
Feb. 13, 2012 01:13PM PST
Base Metals Investing Globe and Mail reported Australia’s Fortescue Metals Group (ASX:FMG) rose on Monday on news that Teck Resources (TSX:TCK.A,TSX:TCK.B,NYSE:TCK) may build a stake in the iron producer.
Globe and Mail reported Australia’s Fortescue Metals Group (ASX:FMG) rose on Monday on news that Teck Resources (TSX:TCK.A,TSX:TCK.B,NYSE:TCK) may build a stake in the iron producer.
As quoted in the market news:
Vancouver -based Teck, a large copper, zinc and metallurgical-coal miner, has long expressed an interest in adding iron ore assets to its portfolio, but analysts doubt that the company would make a play for the Australian miner, which is worth more than $17-billion.
Click here to read the full Globe and Mail report.