Teck mulls Glencore proposal for coal operations CanadiansInvest
-NYSE) on Monday confirmed that Swiss metals trading giant Glencore Plc. is one of a number of proposals under consideration in relation to the possible sale of Teck’s steelmaking coal business.
Teck said its Board of Directors and independent Special Committee, in accordance with its fiduciary duties to shareholders are continuing to consider and evaluate all actionable, value-accretive proposals received relating to the company’s steelmaking coal business to determine whether they are in the best interests of Teck’s shareholders and stakeholders.
Teck ranks as the world’s second-largest seaborne exporter of steelmaking coal, with six operations in Western Canada and significant steelmaking coal reserves. They include Elkview, Fording River, Greenhills and Line Creek in southeastern British Columbia. Coal production is currently shipped via three B.C. west coast ports including Ridley, Neptune and Westshore Terminals. Located in Delta, British Columbia, Westshore Terminals is Canada’s premier coal export terminal and handles over 33 million tonnes of coal annually.
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