Page ContentDate closed: 10/09/2015Value: US$610 millionOn October 9, 2015, Teck Resources Limited (Teck) and a subsidiary entered into a long-term streaming agreement with a subsidiary of Franco-Nevada Corporation (Franco-Nevada) linked to production at the Antamina mine. Teck holds a 22.5% interest in Compañía Minera Antamina S.A. (CMA) which owns and operates Antamina.In connection with the agreement, Franco-Nevada will make an upfront payment of US$610 million to Teck and will pay 5% of the spot price at the time of delivery for each ounce of silver delivered under the agreement. Teck will deliver silver to Franco-Nevada equivalent to 22.5% of payable silver sold by CMA, using a silver payability factor of 90%. After 86 million ounces of silver have been delivered under the agreement, the stream will be reduced by one third. Teck, headquartered in Vancouver, British Columbia, is a diversified resource company.BLG acted as Canadian counsel to Teck with a team led by Fred Pletcher that included Erik Goldsilver, Michael Waters and Michelle Wilkinson.