Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) (“Teck”) announced that the sale of a one-third interest in the Waneta Dam to BC Hydro for C$825 million has closed on Mar 5, 2010.
Teck will apply the net proceeds of the transaction along with US$300 million of cash on hand to reduce the outstanding balance on its term loan to approximately US$800 million. Teck’s cash balance following the debt repayment will be approximately C$900 million.
