Teck declines to build $260-million wastewater pipeline, pays $8-million penalty – BiV
Opting not to build a $260-million pipeline that would direct wastewater from an Alaskan mine into the Arctic Ocean, Teck Resources (TSX:TCK) is paying the U.S. government an $8-million penalty.
The Vancouver-based mining company agreed to finance a study — a stipulation under a 2008 settlement agreement — that would examine the feasibility of building a pipeline transporting effluent from the Red Creek mine in northern Alaska to the Chukchi Sea.
Teck announced June 5 it would exercise its option not build the 84-kilometre pipeline and instead pay a much smaller fine.
Effluent from the Red Dog mine — the world’s largest zinc mine — will continue being treated at an on-site facility and released into Red Dog Creek.
