Canada’s largest diversified mining company. Sometime in the next two days, possibly the next few hours, an investment committee in Beijing will make a decision that will have enormous influence – perhaps even determine – Teck’s future.
As far as we know, the numbers suggest the vote is on knife-edge, with both Teck and Glencore fidgety about the outcome. That’s why CIC’s vote is critical. But CIC has given no public declaration, not even a hint, as to which way it will go and it is believed the Chinese have rebuffed Glencore CEO Gary Nagle’s request to meet with CIC’s investment committee . The committee will almost certainly meet Monday or Tuesday, if it hasn’t met already, to nail down its voting plan. Whether that plan will be revealed immediately or on the day of the vote is not known.