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Teck sells two-thirds interest in Waneta dam, related hydro transmission assets

International diversified electric utility holding company Fortis Inc has agreed to buy Canadian diversified miner Teck Resources two-thirds interest in the Waneta Dam and related transmission assets in British Columbia for $1.2-billion in cash, the companies announced Friday.
The public companies have agreed that Teck subsidiary Teck Metals will lease Fortis’ two-third interest in the hydroelectricity facility for 20-years to produce electricity for its industrial operations in Trail.