Canada’s Teck May Buy Shares in Australia’s Fortescue Metals Group

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.