Teck is seen as a logical merger partner, in particular for Anglo American or Vale SA’s base-metals business.
Coldelco has said this year's output should top the 1.325 million tons produced last year.
Drilling is focused on two targets comprising shallow, highly conductive electromagnetic anomalies.
Ottawa cracked down on mining deals involving foreign state-owned entities in 2022 in a move widely seen as targeting China’s influence in the global critical minerals supply chain.
