Teck Sources Ltd. says it has closed the sale of its 21.3 p.c stake within the Fort Hills oil sands mine to Suncor Vitality Inc. and TotalEnergies EP Canada Ltd.
The Vancouver-based mining firm introduced final 12 months that it could promote its stake in Fort Hills to Suncor, certainly one of two different companions within the venture, for about $1 billion.
However in January, third associate TotalEnergies introduced it could train its contractual proper of first refusal to accumulate an extra 6.65 p.c within the venture from Teck for $312 million.
Upon closing of the sale, TotalEnergies will personal 31.23 p.c of Fort Hills, and Suncor will personal the rest.
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Suncor, which is the operator of the venture, paid $688 million to accumulate its extra 14.65 p.c stake from Teck, which now now not owns a stake within the oil sands.
The Fort Hills oilsands mine is positioned in northern Alberta, about 90 kilometers north of Fort McMurray.
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