Glencore-owned Elk Valley Resources, which operates four steelmaking coal mines in British Columbia, said it is cutting 140 jobs due to “challenging market conditions,” reported CBC News. Full story.
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Tag: Elk Valley Resources
Glencore-led group nabs Teck coal unit
A consortium led by Glencore has agreed to acquire Teck Resources’ steelmaking coal unit for $9 billion, marking one of the largest deals in the mining sector, according to Reuters. Glencore will own 77% of the business in a $6.9 billion cash deal, while 20% will go to Japan’s Nippon Steel Corp., which already holds a 2.5% stake. South Korea’s…
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