11:57 AM EST - Teck Resources Ltd. : signed a non-binding memorandum of understanding with Sumitomo Metal Mining Co. Ltd. regarding the proposed sale of Teck's 40-per-cent interest in the Pogo mine in Alaska for $245 million U.S. subject to adjustment for working capital. The arrangement with Sumitomo Metal follows receipt by Teck of a third-party offer to buy Teck's interest in Pogo on comparable terms. Completion of the transaction is subject to the negotiation and settlement of a definitive agreement. The company expects the transaction to close by the end of the second quarter. Teck Resources Ltd.
shares T.TCK.A are trading up $0.64 at $16.24.
