Teck to spin off steelmaking coal business to shareholders

- Teck Resources announced today the reorganization of its business to separate Teck into two independent, publicly-listed companies: Teck Metals Corp. and Elk Valley Resources Ltd. .

The company said that the separation will create two world-class resource companies and"provide investors with choice for allocating investment between two businesses with different commodity fundamentals and value propositions." "This transformative transaction creates two strong, sustainable, world-class mining companies committed to responsibly providing essential resources the world needs," said CEO Jonathan Price."Both Teck Metals and EVR have high-quality operating assets and strong financial foundations, with talented and dedicated employees, committed to ensuring safe and responsible operations.

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Teck to spin off coal business, end Keevil family controlThe moves come as the Vancouver-based mining company announced a sweeping overhaul of its corporate structure on Tuesday
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