On the other hand, the Fording deal turned out to be a very good one for Teck, so the lesson learned was not to flinch from a good deal when the opportunity arises because the economy works in cycles and will cycle up again.

"Don Lindsay's luck sure has changed.

Today, he can take credit for using deals to transform Teck from a miner with a cloudy future resulting from an aging resource base to one with a much brighter outlook thanks to a huge increase in the amount of resources the company controls.

Teck in 2005 was seen as a miner whose prospects were limited by aging assets. Today, after the five-year expansion by Mr. Lindsay that included the Fording buy, the company is a coal and copper producer with long reserve life. The company now has $1,000 of resources per share, compared to $500 five years ago.

The purchases Mr. Lindsay made to remake Teck gave him the reputation of a deal maker.

But the company made it through, and two and a half years later the long-term reasoning behind the purchase has proven itself out."--Globe and Mail