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News from Reuters

Teck says not for sale amid renewed takeover talk

27/03/08

TORONTO (Reuters) - Teck Cominco Ltd said on Thursday it is not looking to sell itself following the collapse of blockbuster takeover talks between mining giants Vale and Xstrata , and pointed to a deal to develop Panama's Petaquilla copper mine as evidence.

"We are not in the market to sell, that's for sure, and we've got a strong project pipeline in front of us," Doug Horswill, Teck's senior vice president of environment and corporate affairs, told Reuters.

Since Vale and Xstrata parted ways earlier this week, there has been renewed speculation that the two companies would be on the hunt for smaller takeover targets, including Canada's Teck.

(Reporting by Jonathan Spicer; Editing by Peter Galloway)

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