https://www.miningweekly.com
Business|Coal|Mining|Resources|Steel
Business|Coal|Mining|Resources|Steel
business|coal|mining|resources|steel

Teck aiming for coal, metals business separation announcement by end of 2023, says CEO

Teck CEO Jonathan Price

Teck CEO Jonathan Price

6th October 2023

By: Bloomberg

  

Font size: - +

LONDON - Canadian miner Teck Resources is aiming to make an announcement on the separation of its coal and metals business by the end of 2023, CEO Jonathan Price said on Thursday.

Price, who was speaking at the FT Mining summit in London, said that the company is advancing a range of proposals with a range of counterparties.

"I do believe we are coming close to a point where we are going to be able to make a decision on what is the value maximizing route for shareholders and I would like to see that announced before the end of this year," he said.

Teck has been weighing a sale of its coal business as part of a comprehensive business review, which was sparked by a takeover bid by Glencore earlier this year. Among suitors for a stake in Teck's coal unit is India's JSW Steel, Reuters has reported.

Price, without detailing specifics of a potential deal, said a recent diplomatic row between India and Canada was not slowing the process.

"I would say on Canada and India, separately from the sale process, we want to see a continuation of trade between," he said.

Ties between India and Canada deteriorated sharply after Canadian Prime Minister Justin Trudeau said New Delhi may have had a hand in the murder of a Sikh separatist advocate in British Columbia. India denies the allegation vociferously.

Edited by Bloomberg

Comments

Showroom

SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 10 May 2024
Magazine round up | 17 May 2024
17th May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.272 0.316s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: