Glencore signals interest in buying Teck’s coal business even as it pursues the whole Canadian mining company

and Switzerland’s Glencore used a mining conference to present starkly different views on how Teck could create value and whether Ottawa would approve a potential merger of the two companies.

In a public presentation later in the day, Teck CEO Jonathan Price instead highlighted the company’s “strong” financial position as its biggest project, the QB2 copper mine in northern Chile, ramps up production. He said that the company paid off $1.3-billion in debt in 2022, will deleverage again this year, has no debt maturities related to QB2 until 2030, and has US$8-billion in liquidity.

In a twist to the potential split of Teck, Mr. Nagle did not rule out offering to buy Teck’s coal business, though made it clear that a merger of the two companies remains his goal. “Doing the full deal is the best offer for both sets of shareholders, it creates the most value,” he said. “Buying their coal business standalone is a distant second in terms of potential benefits.”

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Five things to watch for in the Canadian business world in the coming weekFrom housing data to inflation, here are five things to watch for in the Canadian business world in the coming week:
Источник: TorontoStar - 🏆 60. / 55 Прочитайте больше »

Five things to watch for in the Canadian business world in the coming weekThe Canadian Real Estate Association will release its April sales figures on Monday.
Источник: VancouverSun - 🏆 49. / 61 Прочитайте больше »

Canadian plywood makers seek duties as cheap Chinese rivals carve out half the marketCarlos Zarate, president of the Canadian Hardwood Plywood and Veneer Association, warns of an industry in decline, but not due to falling demand for things like kitchen cabinets, decorative wood panels and furniture. Association members are unable to compete with plywood products imported from China at low prices.
Источник: CTVCalgary - 🏆 26. / 68 Прочитайте больше »