India’s biggest steel producer JSW Steel intends to bid for a 20-40% stake in Elk Valley Resources Ltd., the metallurgical coal unit of Canadian-based Teck Resources, reported Bloomberg News. Chairman Sajjan Jindal said JSW, along with some Japanese and South Korean mills, could offer a combined $8 billion for a stake in the asset. He told Bloomberg that Teck produced…
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Teck mulling over offers for coal business
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.
Read MoreMultiple potential suitors for Teck coal business sale
Teck has confirmed that it is in receipt of “a number of inbound indications of interest” from potential buyers for the planned sale of its steel coal business arm. Teck, which is seeking to separate its coal division from its base metals division, did not identify any of the involved parties but said it and its board, as well as…
Read MoreTeck enters rail agreement with CPKC
Teck Resources said Canadian Pacific Kansas City (CPKC) and Teck Coal have entered into a long-term rail agreement for the transportation of steelmaking coal from Teck’s four operations in southeastern British Columbia. The agreement builds on existing services in place and runs until the end of 2026. Additionally, the companies intend to collaboratively develop a unique pilot program that integrates…
Read MoreA hub of innovation
The British Columbia Institute of Technology (BCIT) and miner Teck Resources have partnered once again for mining research, this time for a new facility at the university: the Teck Copper Innovation Hub. By Donna Schmidt Post-use of minerals, especially those that can help make life easier, safer and healthier, never fade into the background – society is always looking for…
Read MoreTeck to spin off steelmaking coal unit
Teck Resources said it will separate its business into two independent, publicly-listed companies – Teck Metals Corp. and Elk Valley Resources Ltd. – in an effort to provide investors choice of businesses with unique fundamentals and value propositions.
Read MoreTeck confirms rumors: coal spin-off possible
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…
Read MoreTeck selling Quintette operation
Just days before Christmas, Teck Resources reportedly inked a deal with Conuma Resources to sell its closed Quintette coal mine in northeastern British Columbia, Canada for C$120 million. According to Canadian Press, the cash transaction also includes an ongoing 25% net profit interest royalty that will be payable once the buyer’s investment in the mine has been recovered. Conuma, a…
Read MoreTeck Resources sells Fort Hills interest
Canadian miner Teck Resources has agreed to sell its 21.3% interest in the Fort Hills Energy LP and certain associated downstream assets to Suncor Energy for C$1 billion in cash. The Fort Hills Energy LP owns the Fort Hills oil sands mine in northern Alberta. The deal boosts Suncor’s stake in the project to 75.4%. Total E&P Canada holds the…
Read MorePUTTING COPPER TO WORK
Call it a fight against the rise in superbugs: how antimicrobial copper is helping eliminate bacteria on high-touch surfaces in hospitals across British Columbia. By Jay Schlosar End uses for copper are growing exponentially. Now, in a fight for the more than 220,000 hospital patients in Canada that will contract healthcare-acquired infections this year comes the growing emergence of antimicrobial…
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