Norman Keevil said for the first time he would support the sale of Teck, but only after it completes coal business spinoff plan. Read on.
“I would support a transaction — whether it be an operating partnership, merger, acquisition, or sale — with the right partner, on the right terms for,” Keevil said in a statement on April 16. “Glencore’s proposal is the wrong one, as well as at the wrong time,” he added. “I fully agree with Teck’s board that there is no deal to be done pre-separation with Glencore or any other party.”
Glencore, though, is looking to scoop up the Canadian miner before the company divides itself. It has similar plans to split the combined company into one that would be the world’s third largest copper producer and one that produces thermal coal, steelmaking coal and other fossil fuels.Article content
“Teck is a major Canadian critical minerals producer and Canada, the United States and our allies are all seized with identifying and developing the critical minerals that we need continentally to reach net zero by 2050 to meet our security and technological objectives,” Michael Goehring, the association’s chief executive, said in an interview.Article content
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