New project will add 20 years to Red Dog

Article Excerpt

TECK RESOURCES LTD. $32 (Toronto symbol TCK.B; Conservative Growth Portfolio, Resources sector; Shares outstanding: 589.4 million; Market cap: $18.9 billion; Price-to-sales ratio: 2.0; Dividend yield: 1.3%; SI Rating: Average) will develop the Aqqaluk Deposit at its Red Dog zinc mine in northwestern Alaska. This deposit will replace Red Dog’s nearly depleted main deposit. Environmental opposition has delayed this development. But Teck has received the necessary permits to begin work on this project. The company did not say how much the new mine will cost, or when it would begin production. However, Aqqaluk’s reserves should last 20 years. Teck Resources is a buy. buy…