Teck Cominco Ltd., the second-biggest zinc producer, agreed to settle a lawsuit filed by Inuit villagers by paying as much as $120-million (U.S.) for a pipeline to protect drinking water from mine discharges. Vancouver-based Teck Cominco and lawyers for the villagers yesterday asked a federal judge in Anchorage, Alaska, to approve the settlement. Teck Cominco will construct the pipeline to abate concerns of residents of Kivalina, 300 kilometres northwest of Nome, Alaska. They sued Teck in 2002, claiming waste from the Red Dog mine taints their drinking water. TEK.B (TSX) fell $2.33 to $38.57 (Canadian)