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.
“We’re not sitting on our hands,” CEO Jonathan Price said during a company earnings call. “We are working on this very actively right now and we’re engaged with multiple counterparties.”
More than five months have passed since Teck first announced plans to become a standalone base metals producer. The miner, noted Bloomberg, has since faced pressure to design a better plan than an initial proposal, which shareholders rejected in April.
Price said Teck is considering a “number of structures” proposed by multiple interested buyers. “There’s a lot of interest for the whole of the business or components of the business.”
Teck is the world’s second-largest seaborne exporter of steelmaking coal, with four operations in Western Canada and significant high-quality steelmaking coal reserves.
Source: Bloomberg