Glencore Plc will buy a majority stake in Teck Resources Ltd.’s coal business, ending a months-long saga that transfixed the mining industry and setting the stage for the commodity giant to exit the coal business itself.
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Teck Resources to Sell Majority of Coal Business to GlencoreTeck 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.
Source: globeandmail - 🏆 5. / 92 Read more »
Canadian Government to Review Glencore's Acquisition of Teck's Elk Valley ResourcesThe Canadian government will carefully review Glencore's acquisition of Teck's Elk Valley Resources Ltd. to ensure it benefits Canada and passes a national security test. The government will consider factors such as Canadian jobs, a Canadian headquarters, environmental concerns, and the rights of Indigenous people.
Source: globeandmail - 🏆 5. / 92 Read more »
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.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Ottawa's Approval of Teck Resources' Coal Business OfferWith Teck Resources' offer for the coal business now on the table, all eyes are on the federal government to see if they will approve the deal and under what conditions.
Source: globebusiness - 🏆 31. / 66 Read more »