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Debt-laden Teck Cominco bids adieu to Hemlo

Teck Cominco is getting out of its joint venture partnership in the Hemlo gold camp. The miner is selling its 50 per cent stake in the two-mine operation near Marathon to Barrick Gold for $65 million US.
Northern Ontario Business Staff

Teck Cominco is getting out of its joint venture partnership in the Hemlo gold camp.
The miner is selling its 50 per cent stake in the two-mine operation near Marathon to Barrick Gold for $65 million US.
The British Columbia-based Teck is using the money to pay down debt and cut costs after last year's $13 billion takeover of Fording Canadian Coal Trust.
The Hemlo operations consist of the Williams and David Bell Mine in northeastern Ontario.