GLOBAL SEARCH FOR GOLD — Teck eyes gold project in Uzbekistan

Interfax News Agency reports that two Canadian companies are vying to become involved in the Amantaytau Goldfields joint venture, which was set up to mine the Amantaytau and Daugistau gold deposits in Uzbekistan.

The report quotes a source “close to the government” as saying that Cameco (CC0-T) and Teck (TEK-T) are negotiating to replace Britain’s Lonrho, which owns a 35% stake in the joint venture but which ceased financing the project this past summer. Lonrho’s stated reason for its withdrawal is increasing construction and production costs.

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