Teck sells Utah Apex mine for 7m shares, 0.5% NSR and $1m royalty
Teck American will transfer the Utah Apex mine’s 26 patented and nine unpatented claims over 250 ha to Blue Moon Metals under a February sale agreement closing in March 2026. Teck will receive 7.03m common shares (8% stake), a 0.5% NSR and a capped $1m royalty, plus potential Trail synergies.
1. Asset Transfer Details
Teck American will transfer full ownership of the Apex mine near Delta, Utah, covering 26 patented and nine unpatented claims over 250 ha to Blue Moon Metals under a sale and purchase agreement signed in February 2026, with completion expected by March 2026.
2. Consideration and Royalties
In return, Teck will receive 7,031,959 common shares in Blue Moon (an 8% stake at announcement), a 0.5% net smelter returns royalty on the property, and a capped $1 million royalty free of other encumbrances.
3. Strategic Synergies
The deal opens potential processing of zinc concentrates from Blue Moon’s California operations at Teck’s Trail Operations in Canada, and lays groundwork for redevelopment of the Apex mine as a domestic source of germanium and gallium.
4. Future Outlook
Blue Moon plans to restart production at its Blue Moon Mine in California by 2028 and redevelop the Springer tungsten mine in Nevada, while Teck may leverage this hub-and-spoke platform to bolster its critical minerals supply chain.