Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Teck Resources (TSX: TECK) says an equipment failure that occurred this weekend at its zinc refinery in Trial, British Columbia, could cost the miner between 20,000 and 30,000 tonnes in lost production.
The failure affected one of four rectifiers used in refinery, which would reduce its total production capacity by about 25%, the company says.
Repairs are expected to take up to 20 weeks with an estimated cost of C$5 million to C$10 million.
No injuries or environmental impacts related to the incident were reported.
Last year, Teck’s Trail operations produced 302,000 tonnes of refined zinc. Its production guidance for this year is 305,000-310,000 tonnes.
