Teck royalty revelation makes Anglo American merger more attractive, says Citi

The undisclosed stake in Barrick's Fourmile gold project could add up to $3 billion in value to a combined Anglo-Teck group A previously undisclosed royalty held by Teck Resources on Barrick Mining's Fourmile gold project in Nevada has strengthened the case for Anglo American PLC's (LSE:AAL) proposed merger with the Canadian miner, according to Citigroup analysts. The Globe and Mail reported this week that Teck owns a 10% net profits interest on Fourmile, a project Barrick has described as one of the most significant gold discoveries of the century, with the royalty rising to 15% once six million ounces of gold are produced.