Cadillac Intersects 33.40 Feet of 1.42 pct Cu at Depth at Thierry

However, CEO Vladimir Potanin said the company will not distribute dividends before then.

The miner reported a 22% fall in first-half profit in August.

Teck can acquire up to a 70% interest in the project by spending C$15.7 million on the project and making staged cash payments totalling C$1.6 million.

Gold futures for delivery in February traded as much as $60 an ounce, or 2%, over spot prices in early London trading.