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Mining news: FORDING CANADIAN COAL TRUSTNo plans for equity issue says Teckdoes not plan to issue any equity to pay off debt incurred in its takeover of Fording Canadian Coal Trust. Earlier Teck Cominco said in a statement ‘We are not currently contemplating issuing equity securities.’ Teck added that it is developing a Teck Cominco says in talks on gold asset salesTORONTO (Reuters) - Teck Cominco is in talks with potential buyers of its gold assets, the sale of which could be part of a strategy to quickly pay down a $5.8 billion bridge loan taken on to finance its acquisition of Fording Canadian Coal Trust, a UPDATE 2-Teck Cominco says it has no plans for equity issue(Adds analyst comment, in U.S. dollars, unless noted) TORONTO, Nov 11 (Reuters) - Teck Cominco (TCKb.TO: Quote, Profile, Research, Stock Buzz) does not plan to issue any equity to pay off debt incurred in its takeover of Fording Canadian Coal Trust, the Teck Cominco says does not plan equity issueTORONTO (Reuters) - Teck Cominco does not plan to issue any equity to pay off debt incurred in its takeover of Fording Canadian Coal Trust, the company said on Tuesday, responding to apparent market rumors that such as sale would take place. Teck’s UPDATE 1-Teck Cominco says does not plan equity issue(In U.S. dollars, unless noted) TORONTO, Nov 11 (Reuters) - Teck Cominco (TCKb.TO: Quote, Profile, Research, Stock Buzz) does not plan to issue any equity to pay off debt incurred in its takeover of Fording Canadian Coal Trust, the company said on Reducing $10b debt is Teck’s highest priority during credit crunchFording Canadian Coal Trust and Teck announced that they expect the sale by Fording of all of its assets to Teck is expected to close on October 30. 2008. Teck Cominco to cut exploration, could sell assetsBy Cameron FrenchTORONTO (Reuters) - Teck Cominco plans to rein in its exploration budget and is considering asset sales to rapidly repay the debt it took on with the $13 billion acquisition of Fording Canadian Coal Trust , the company’s chief executive Teck Cominco to cut exploration, could sell assetsTORONTO (Reuters) - Teck Cominco plans to reduce its exploration budgets and is considering asset sales to rapidly repay the debt it took on with the $13 billion acquisition of Fording Canadian Coal Trust , the company’s chief executive said on Thursday. Teck Cominco to cut exploration, could sell assetsTORONTO (Reuters) - Teck Cominco plans to reduce its exploration budgets and is considering asset sales to rapidly repay the debt it took on with the $13 billion acquisition of Fording Canadian Coal Trust , the company’s chief executive said on The state of North American miningResearch and Markets has released a new report North America Mining Sectors: A Company and Industry Analysis (June 2008), focusing on the markets in Canada and the USA. Key points from the current environment are that in the first quarter of 2008, rising global commodities prices drove the mining market, despite the poor economic environment in [...] Teck Cominco to reorganize divisions, change nameTORONTO (Reuters) - Teck Cominco , which won final approvals this week for its acquisition of Fording Canadian Coal Trust , said on Wednesday it will reorganize its mining business into five units and change its name next year. The company also said it Teck Cominco shortens name, unveils new corporate structureDiversified Candian miner Teck Cominco will shorten its corporate name to simply ‘Teck’ and has realigned its structure into five strategic business units - copper, metallurgical coal, zinc, gold and energy – the company announced on Wednesday. Teck, which on Tuesday won approval for its acquisition of Fording Canadian Coal Trust, was formed in 2001 when diversified miner Teck Corp bought zinc-miner Cominco. Teck Cominco and Fording Announce Receipt of Final Order and Satisfaction of Closing Conditions Regarding Sale of Fording Assets to Teck - Quick factsTeck Cominco Limited (TCK-A.TO, TCK-B.TO,TCK: News ) announced, along with Fording Canadian Coal Trust (FDG, FDG_U.TO), that the Court of Queen’s Bench of Alberta has issued its final order approving the plan of arrangement pursuant to which Fording will Fording and Teck Cominco Announce Receipt of Final Order and Satisfaction of Closing Conditions Regarding Sale of Fording Assets to TeckCALGARY, ALBERTA–(Marketwire - Sept. 30, 2008) - Fording Canadian Coal Trust (TSX:FDG.UN) (NYSE:FDG) and Teck Cominco Limited (TSX:TCK.A) (TSX:TCK.B) (NYSE:TCK) today announced that the Court of Queen’s Bench of Alberta has issued its final order Teck Cominco and Fording Announce Receipt of Final Order and Satisfaction of Closing Conditions Regarding Sale of Fording Assets to TeckVANCOUVER, BRITISH COLUMBIA–(Marketwire - Sept. 30, 2008) - Teck Cominco Limited (TSX: TCK.A and TCK.B, NYSE: TCK) today announced, along with Fording Canadian Coal Trust (TSX: FDG.UN, NYSE: FDG), that the Court of Queen’s Bench of Alberta has issued Fording and Teck Cominco Announce Receipt of Final Order and Satisfaction of Closing Conditions Regarding Sale of Fording Assets to Teck– Fording Canadian Coal Trust (Toronto:FDG-UN.TO - News) (FDG - News) and Teck Cominco Limited (Toronto:TCK-A.TO - News) (Toronto:TCK-B.TO - News) (TCK - News) today announced that the Court of Queen’s Bench of Alberta has issued its final order Teck Cominco and Fording Announce Receipt of Final Order and Satisfaction of Closing Conditions Regarding Sale of Fording Assets to TeckVANCOUVER, BRITISH COLUMBIA–(Marketwire - Sept. 30, 2008) - Teck Cominco Limited (TSX: TCK.A and TCK.B, NYSE: TCK) today announced, along with Fording Canadian Coal Trust (TSX: FDG.UN, NYSE: FDG), that the Court of Queen’s Bench of Alberta has issued Fording holders approve Teck buyoutSecurityholders of Fording Canadian Coal Trust on Tuesday approved the sale of the company’s assets to Canadian diversified miner Teck Cominco. Teck announced in July that it would offer $82,00 in cash and 0,245 of a Teck Cominco class B subordinate share for every Fording unit, in a deal that would make it North America’s biggest exporter of metallurgical coal, and the second-largest in the world. Fording Canadian Coal Trust gets Securityholder Approval for Proposed Sale of Assets to Teck Cominco - Quick factsUS Economic News European Economic News Asian Economic News All Economic News FX Top Stories Currency Alerts Mkt Sensitive News Politics European Mkt Updates Asian Mkt Updates Treasury Mkt Updates Daily Market Analysis US Market Updates US Commentary Fording Announces Securityholder Approval of Proposed Sale of Assets to Teck ComincoCALGARY, ALBERTA–(Marketwire - Sept. 30, 2008) - Fording Canadian Coal Trust (TSX:FDG.UN - News; NYSE:FDG - News) today announced that the Fording securityholders have approved the plan of arrangement respecting the announced sale of Fording’s assets to |
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