Teck shoppingI wonder whether HBM was approached but rejectted an offer.
Breaking News
Teck hunting for buys; quarterly profit falls
CP
00:00 EDT Wednesday, August 01, 2007
Teck Cominco Ltd. says it is shopping to expand its asset base, but hasn't been able to cut a deal since its offer for Aur Resources Inc. because it wants to stay "disciplined" in its spending. "Price is very important to us so we're trying to remain disciplined, but from time to time when we see a collection of assets or a key asset where there's something we can do to add value," chief executive officer Don Lindsay said yesterday. The company announced late Monday that its second-quarter profit fell 21 per cent due to lower coal prices and lower sales volumes at its Highland Valley and Antamina copper mines. The company reported profit of $485-million or $1.14 a share, compared with $613-million or $1.48 in the second quarter of 2006. TCK.B (TSX) rose 60 cents to $47.30.