Teck and agnico eagle announce completion of the san nicolÁs copper-zinc project joint venture

Vancouver, british columbia and toronto, april 06, 2023 (globe newswire) -- agnico eagle mines limited (tsx and nyse: aem) (“agnico eagle”) and teck resources limited (tsx: teck.a and teck.b, nyse: teck) (“teck”) announced today that the previously announced joint venture transaction between teck and agnico eagle to advance the san nicolÁs copper-zinc development project has closed. teck and agnico eagle have entered into a joint venture shareholders agreement whereby agnico eagle, through a wholly-owned mexican subsidiary, has agreed to subscribe for a 50% interest in minas de san nicolÁs, s.a.p.i. de c.v. (“msn”) for us$580 million, to be contributed as study and development costs are incurred by msn. for governance purposes, agnico eagle is deemed to be a 50% shareholder of msn from closing, regardless of the number of shares that have been issued to agnico eagle or its subsidiary.
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