Canadian miner Teck Resources, after multiple reports of rumors, confirmed it is considering a spin-out of its steelmaking coal business.
Officials said Feb. 14 the company is currently evaluating alternatives that could include a spin-out of interest to its shareholders.
“Any transaction would be expected to create value for Teck’s shareholders and support continued benefits for communities and Indigenous Peoples in the areas where Teck operates,” Teck said.
It added that no decision has been reached to proceed with a transaction; moreover, there is no guarantee any transaction will eventuate.
“Teck does not intend to make any additional comments regarding this matter unless and until a formal decision has been reached,” the miner said.
Teck, headquartered in Vancouver, also has major business units for copper and zinc. It divested its oil sand arm in October 2022, when it sold its Fort Hills asset stake to Suncor in a $1 billion deal.