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Teck takes 13.8% stake in Sun Metals

Teck Resources Ltd. said Dec. 20 that it purchased a 13.8% stake in Sun Metals Corp.

The Canadian diversified miner acquired 12.5 million shares in Sun Metals at 28 cents per share for C$3.5 million. The acquisition was made for investment purposes.

Sun Metals' proceeds from the placement will be used to fund exploration at the Stardust copper-gold project in British Columbia.