Teck increases AQM stake

Teck Resources (NYSE: TCK) increased its stake in AQM Copper (CVE:AQM) to 19.9%.

Teck announced today that it bought 22.4 million common shares of South American junior at 11 cents per share.

AQM Copper Inc. is focused on copper deposits in Southern Peru and its Zafranal property, a 50/50 joint venture with Teck Resources.

According to AQM’s website, the Zafranal Property is located in the resource-rich district of the southern Peru porphyry copper belt and is close to some of the world’s largest operating copper mines.

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