think this is a bigger deal to Teck than some may give credit for.
Bottom line is 1 man at Teck holds all the votes (Teck class A shares). Norman B Keevil.
He's the only guy at Teck with any Teck A shares.
1 Teck A share = 100 votes
1 Teck B share = 1 vote
Temagami Mining owns 45.97% of Teck A shares
Sumitomo Metal Mining owns 49% of Temagami
Keevil Holding Corp owns 51% of Temegami Mining and SMM Resources Inc,
SMM Ressources is a wholly owned subsidary of Sumitomo
Even CIC doesn't even own Teck A shares , they own Teck b shares 101,304,474 shares.
Don Lindsay only holds B shares..etc.
Well Mr. Keevil is the current Teck Chairman of the board:
http://www.teck.com/Generic.aspx?PAGE=Teck+Site/Responsibility+Pages%2fCorporate+Governance+Pages%2fDirectors+Pages%2fNorman+B.+Keevil&portalName=tc
He loved Schaft Creek back in the day before the power line, and the high grade starter pit and the new zones and high metal prices and world copper supply issues....
This is what he had to say:
The company will kick off the coming decade with the start up of yet another large project – it’s Highmont copper-molybdenum mine in B.C. Three more Canadian development proposals (B.C.’s Bullmoose coking coal deposit and its Schaft Creek copper-molybdenum-gold property along with Ontario’s Montcalm nickel-copper deposit) are waiting in the wings.
Also waiting to be developed is the Schaft Creek copper-molybdenum-gold deposit in northern B.C.,.
The richness of Schaft Creek’s copper grade is “pretty dramatic,” Dr. Keevil Jr. says. Despite the high cost, the development date probably would be earlier if there were power in the are, he adds. However, hopes for a new B.C, Hydro plant near the site so far are just that – hopes.