By Shane Lasley
Mining News
Mining Explorers 2009: Japanese firms buy out Teck at Pogo
Alaska gold operation becomes first overseas mine operated by Sumitomo Metals Mining
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Last updated 11/1/2009 at Noon
Sumitomo Metal Mining Co. Ltd. and Sumitomo Corporation closed a deal in July to purchase Teck Resources Ltd.'s 40 percent interest in the Pogo Gold Mine in Interior Alaska.
The transaction required the Japanese companies to pay Teck US$245 million, plus an undisclosed amount of working capital. As a result, Sumitomo Mining and Sumitomo Corp. now own 100 percent of Pogo, with the former increas...
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