Subsidy Tracker Individual Entry

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

mining infrastructure

Year: 
1999
Major Industry of Parent: 
mining and minerals
Specific Industry of Parent: 
mining
Subsidy Value: 
$87,000,000
Program Name: 
Development Finance Program
Awarding Agency: 
Alaska Industrial Development and Export Authority
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 1999, the Alaska Industrial Development and Export Authority (AIDEA) issued $87 million in bonds to finance expansion of the DeLong Mountain Transportation System's (DLMT) port facilities to accommodate increase in Red Dog Mine production. The mine is owned by Teck Alaska, previously known as Cominco (NANA Regional Corporation owns the ore deposits and contracts with Teck Alaska to mine it). DLMT is a 52-mile road and port that serve the mine. DLMT is owned by the state but the mining company has priority non-exclusive right to use the road system. The bonds are serviced through fees paid by the road users. Overlaps with main Subsidy Tracker data: this amount is included in a Subsidy Tracker 1990 entry for Red Dog Mine, under the Development Finance Program.

Source Notes: 
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