TORONTO (miningweekly.com) – The mystery C$324-million Teck Resources said on Thursday it had invested into unnamed public companies during the fourth quarter caught the curiosity of analysts, but management of the diversified miner was mum over its intentions.
All that CEO Don Lindsay would say is that the company took advantage of tumbling share prices in the wake of the wobbles the Euro Zone crisis brought about, but some analysts believe the Vancouver-based firm might be dusting off its iron-ore ambitions.
“The word is passing around that iron ore is an interest to them,” MacDougall, MacDougall & MacTier analyst Ian Nakamoto said in an interview.
Teck, which mines coal, copper, zinc and molybdenum, has every now again signalled its interest in getting into iron-ore, which would be a good fit, commented BMO Capital Markets analyst Meredith Bandy.