TECK STILL IN TALKS ON B.C. COPPER VENTURE
<Teck Corp> said it
was continuing talks about joining a joint copper venture at
Highland Valley, British Columbia, held by affiliates Cominco
Ltd <CLT> and <Lornex Mining Corp>, but did not know when
negotiations would be completed.
    Teck vice-president of administration John Guminski said in
reply to a query that the talks had been "ongoing for a long
time." He declined to speculate on the outcome.
    Cominco, 29.5 pct owned by a consortium led by Teck, is
optimistic that the talks will soon be concluded, spokesman Don
Townson told Reuters.
    "I think all partners are hopeful that the situation will be
resolved," Cominco's Townson said.
    "We're optimistic that they will be concluded shortly," he
added. Townson declined to specify when the talks might end.
    Cominco and Teck's 22 pct-owned Lornex agreed in January
1986 to form the joint venture, merging their Highland Valley
copper operations.
    Cominco and Lornex share equally in control and management
of the Highland Valley operations, while Cominco has a 55 pct
share of production and Lornex receives 45 pct.
    For the six months following July 1, 1986, when the venture
officially started production, Highland Valley had total ore
milled of 22.6 mln short tons, grading an average of 0.41 pct
copper, Townson said.
    Cominco's share of production was 43,000 short tons of
copper contained in concentrate, 1,200 short tons of Molybdenum
in concentrate, 340,000 ounces of silver and 800 ounces of
gold, he said.
    A consortium, 50 pct owned by Teck and 25 pct each by MIM
(Canada) Inc and Metallgesellschaft Canada Ltd, acquired its
Cominco stake last year from Canadian Pacific Ltd <CP>.
 Reuter
