Subsidy Tracker Individual Entry

Company: 
Teck Resources
Parent Company: 
Teck Resources
Subsidy Source: 
state
Location: 
Alaska
Project Description: 

mining infrastructure

Year: 
1990
Major Industry of Parent: 
mining and minerals
Specific Industry of Parent: 
mining
Subsidy Value: 
$180,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Source of Data: 

The value of the subsidy package and the description of the project are taken from DeLong Mountain Transportation System project description on the Alaska Industrial Development and Export Authority website; available online at: http://www.aidea.org/Programs/InfrastructureDevelopment/DeLongMountainTr...

Notes: 

In 1990, the Alaska Industrial Development and Export Authority (AIDEA) completed the $180 million DeLong Mountain Transportation System (DLMT), a 52-mile road and port that serve the Red Dog Mine owned by Teck Alaska, previously known as Cominco (NANA Regional Corporation owns the ore deposits and contracts with Teck Alaska to mine it). The road was financed with $103 million in tax-exempt bonds issued by AIDEA and by state appropriations that covered rest of the project costs. DLMT is owned by the state but the mining company has priority non-exclusive right to use the system. The bonds are serviced through fees paid by the road users. Overlap with main Subsidy Tracker data: This amount is included in the Subsidy Tracker 1990 entry for Red Dog Mine, under the Development Finance Program. The DLMT was expanded in 1999 (see Teck Alaska 1999 deal).

Source Notes: 
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