05:21 PM EST, 11/18/2024 (MT Newswires) -- Teck Resources (TECK-B.TO) on Monday said it received exchange permission to buy back and cancel up to 40-million Class B shares over 12 months through a normal-course issuer bid.

The company said the allowed amount represents 7.9% of the shares in the class.

The renewed NCIB takes effect on Nov.22 and runs for 12 months.

Under its expiring program, the company bought back q8.06-million of the Class B shares of an allowed 40 million.