Teck to sell closed Quintette mine to Conuma Resources for $120-million, plus royalties

Conuma Resources to purchase closed Quintette steelmaking coal mine from Teck Resources Limited for $120-million

Teck Resources Limited says it has reached a deal to sell its closed Quintette steelmaking coal mine in northeast British Columbia to Conuma Resources Ltd.

Teck says Conuma Resources will pay $120-million in cash for the mine, plus an ongoing 25 per cent net profits interest royalty payable after Conuma recovers its investment in Quintette. The Quintette mine is located near Tumbler Ridge, B.C. and was in operation for 18 years, until Teck closed the mine in 2000.Conuma Resources is a steelmaking coal producer based in northeast B.C. It currently has three mines in operation close to Chetwynd, B.C. and Tumbler Ridge.

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