Glencore said it will not spin off its coal business after securing backing from the majority of its investors, according to Reuters. The miner had been debating on whether to keep the coal assets or spin them off after it purchased the majority of Teck Resources’ steelmaking coal business last month. Retaining the coal assets “offers the lowest risk pathway…
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Teck Resources said its Red Dog Operations, the largest critical mineral mine in the United States, has been awarded the Zinc Mark in recognition of environmentally and socially responsible production practices. Full story.
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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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India’s biggest steel producer JSW Steel intends to bid for a 20-40% stake in Elk Valley Resources Ltd., the metallurgical coal unit of Canadian-based Teck Resources, reported Bloomberg News. Full story.
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Coal, copper and zinc producer Teck Resources has teamed with transport firm Norden for an agreement that will reduce CO² emissions in Teck’s steelmaking coal supply chain. The agreement is expected to reduce annual emissions from Teck shipments handled by Norden by 25%, or up to 6,700 tonnes of CO². The latter will achieve emission reductions with a range of…
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Canadian-based Teck Resources said it is still evaluating offers for its steelmaking coal operations as the miner seeks to separate its coal and base metals businesses, reported Bloomberg. Read the full story here.
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Teck has confirmed that it is in receipt of “a number of inbound indications of interest” from potential buyers for the planned sale of its steel coal business arm. Full story.
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Teck Resources said Canadian Pacific Kansas City (CPKC) and Teck Coal have entered into a long-term rail agreement for the transportation of steelmaking coal from Teck’s four operations in southeastern British Columbia. Full story.
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Canadian miner Teck Resources has rejected an unsolicited $22.5 billion offer from Glencore, citing reluctance to expose its shareholders a large thermal coal business, an unwanted oil trading business and significant jurisdictional risk, reported Reuters. Glencore’s proposal was to merge with Teck and to simultaneously demerge their combined metals and coal businesses to create MetalsCo and CoalCo. The remaining company…
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Teck has taken another broad step forward toward commissioning and full production at its Quebrada Blanca Phase 2 project (QB2) in northern Chile – production of the mine’s first bulk copper concentrate. CEO Jonathan Price said, at full production, QB2 will double Teck’s copper production on a consolidated basis, as it is one of the world’s largest undeveloped resources of…
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