Suncor buys smaller stake in Canada oil sands mine

Canada's Suncor Energy on Friday said it was buying a smaller stake in the Fort Hills oil sands mine in northern Alberta from Teck Resources after partner Totalenergies exercised its right of first refusal and announced it would buy a slice of Teck's share of the project.

Suncor announced in October an agreement to buy Teck's 21.3% stake in the bitumen mine, but in December France's Totalenergies filed an application in the Alberta Court of King's Bench challenging the deal.

Totalenergies on Friday said it would buy an extra 6.65% stake in Fort Hills for C$312 million ($234 million).

Suncor told Reuters in an email it would still acquire the rest.