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By Shane Lasley
Mining News 

Glencore to buy Teck coal assets for $6.9B

North of 60 Mining News - November 15, 2023


Last updated 11/24/2023 at 1:40pm

Neptune coal loading facility and Vancouver skyline light up the night.

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Glencore to pay Teck $6.9 billion in cash for 77% interest in Elk Valley Resources, which is partial owner of this coal loading facility in North Vancouver, British Columbia.

Teck to receive a total of $8.2B for coal assets in Southern BC; cash infusion to bolster focus on clean energy metals.

In a deal that finds a middle ground between the ambitions and future visions of two mining companies, Teck Resources Ltd. has agreed to sell its steelmaking coal assets in Southern British Columbia to Glencore for around US$6.9 billion.

"This sale will ensure Teck is...

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