B.C. communities wary of takeover proposal for Teck Resources

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Kootenay communities liked Teck Resources\u0027 plan to split its company in two, but are less enamoured with Glencore Plc\u0027s proposed takeover.

Having Teck’s mines, which comprise one of the world’s top steelmaking-coal resources, blended in with Glencore’s thermal resources, considered the dirtiest fuel for power generation, is one of the parts Elkford Mayor Steve Fairbairn doesn’t like.

That, to Fairbairn, “would be good to very good,” when it comes to local representation among executives.Article content Teck’s Elk Valley coal mines have had problems with their environmental impacts that have racked up some of Canada’s biggest fines, but both mayors contend the company has been a better steward on that front than Glencore’s reputation.Article content

On the political front, the federal Conservative Opposition has called on Ottawa to block any proposed takeover under Investment Canada Act restrictions, with Kootenay-Columbia MP Rob Morrison making that point in Cranbrook this week.

 

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