Mentioned:
One of the world’s mining giants is making a new bet on zinc and lead production in Idaho.
What’s happening:
- Teck (NYSE: TECK) has made a new $40M USD investment into Bunker Hill Mining (TSXV: BNKR) to restart the iconic Bunker Hill mine located southeast of Couer d’Alene, Idaho
By the numbers:
- Teck’s $40M USD investment into Bunker Hill Mining will increase their equity stake from roughly 6.6% to approximately 35%
- Bunker Hill Mining is also raising an additional $20M USD alongside of Teck’s strategic investment
Why it matters:
- The Bunker Hill mine is widely considered to be amongst the most legendary mining projects in America and was previously one the largest producing mines in Idaho for zinc and lead production
Going deeper:
- Teck and Bunker Hill Mining already have an existing offtake agreement in which Teck will receive zinc and lead concentrates from the Bunker Hill mine
- Zinc has continued to play a major role in renewable energy technology, specifically as a critical input for solar panel manufacturing and battery production
The fine print:
- Bunker Hill Mining has publicly stated they need to restructure some of their existing debt and convert it into equity with lenders that include Teck, Sprott Streaming and Monetary Metal in order to be able to aggressively advance the Bunker Hill mine
