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Ottawa's Approval of Teck Resources' Coal Business Offer

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Teck Resources,Coal Business,Offer

With 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.

With the offer for the coal business of Teck Resources Ltd. now formally on the table, all eyes are on the federal government. Will Ottawa approve the US$8.9 billion deal and, if so, under what conditions? Teck chief executive Jonathan Price says the deal is good for his company and good for Canada. He says Glencore is promising to maintain jobs, invest billions in capital expenditures and increase spending on research and development.

Teck’s coal assets are beset with pollution problems, indirectly emitting tens of millions of tonnes of carbon dioxide annually and implicitly at odds with Canada’s own steel decarbonization efforts. Teck’s coal assets have long stood against Ottawa’s policy objectives, and that does not change with the ownership. Without any significant conditions, the coal assets exist in a regulatory environment that is increasingly hostile to them

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