TECK RESOURCES LTD. $16

TECK RESOURCES LTD. $16 (Toronto symbol TCK.B; Conservative Growth Portfolio, Resources sector; Shares outstanding: 576.3 million; Market cap: $9.2 billion; Price-to sales ratio: 1.1; Dividend yield: 0.6%; TSINetwork Rating: Extra Risk; www.teck.com) is a leading producer of metallurgical coal, a key ingredient in steelmaking. It also produces copper and zinc.

The company has an alliance with Australian miner Rox Resources, which recently discovered one of the world’s largest zinc deposits in northern Australia. Teck owns 51% of this deposit, while Rox owns the remaining 49%.

Under the deal, Teck has the option of increasing its interest in this zinc find to 70% if it commits $14.5 million to fund further development. It would take between five and 10 years to build a mine.

Teck Resources is a buy.

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