Teck Resources to Sell Majority of Coal Business to Glencore

📆 7/14/2023 7:45 PM

Business News

Teck Resources, Coal Business, Glencore

Teck Resources Ltd. is planning on selling the majority of its coal business to Swiss commodities trading giant Glencore PLC, and two Asian steelmakers will buy the balance in a US$8.9-billion transaction.

📆 7/14/2023 7:45 PM
📰 globeandmail

⏱ Reading Time:
6 sec. here
7 min. at publisher
📊 Quality Score:
News: 23%
Publisher: 92%

Teck Resources Ltd. is planning on selling the majority of its coal business to Glencore PLC, with two Asian steelmakers buying the remaining stake. Glencore will pay $6.9 billion for 77% of Teck's coal business, while Japan's Nippon Steel will pay $1.

7 billion and South Korea's POSCO will swap its interests in two coal operations for 3% of the business.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Teck in Talks to Sell Coal Business to GlencoreTeck Resources is reportedly in talks to sell its coal business to Glencore, according to the Wall Street Journal. The potential deal comes as Teck aims to reduce its carbon footprint and shift towards cleaner energy sources.
Read more »