All articles tagged with #teck resources
A proposed $53 billion merger between Anglo American and Teck Resources could create the world's largest copper mine by the early 2030s, surpassing BHP's Escondida, through the integration of Teck's Quebrada Blanca mine with Anglo's Collahuasi operation, potentially producing around one million tonnes of copper annually and ranking among the top five copper producers globally.
Anglo American is acquiring Teck Resources in a $50 billion all-share merger to create the world's fifth-largest copper producer, focusing on critical minerals and strategic assets like Teck's Quebrada Blanca mine in Chile, amid industry consolidation and potential regulatory reviews.
Anglo American and Teck Resources are merging to create a major copper producer amid rising global demand for copper, driven by technology and infrastructure needs, with the new company expected to generate significant cost savings and reshape the mining industry.
Anglo American is close to completing a $20 billion takeover of Teck Resources, signaling a major consolidation in the mining industry.
Anglo American is close to acquiring Teck Resources in a potentially record-breaking mining deal, which could reshape the industry by expanding copper production and creating operational efficiencies, amid a backdrop of recent industry deal activity and strategic shifts.
Glencore has reached an agreement to acquire a majority stake in Teck Resources' coal business, ending a contentious battle between the two companies. The deal will allow Glencore to exit the coal business and focus on metals needed for the energy transition. Glencore plans to create a new company listed on the New York Stock Exchange for its combined coal operations within two years. The acquisition, valued at $6.93 billion, is subject to Canadian government approval. Teck will use the proceeds to pay off debts, build new metal mines, and return some to shareholders.
Copper, traditionally seen as a cyclical economic indicator, is also set to play a key role in the world's green transition, with green technologies such as electric vehicles and solar panels using more copper than equivalent fossil-fuel-based technologies. Glencore's pursuit of Teck Resources highlights the race to secure access to copper, as supply growth looks likely to fall far short of demand over the coming decade.
Canadian mining company Teck Resources has rejected a hostile approach by Swiss commodities trader Glencore. Glencore had proposed a merger with Teck Resources, but the Canadian company said the proposal was not in the best interests of its shareholders.
Teck Resources has rejected a $22.5bn takeover bid from Glencore, which proposed a simultaneous spin-off of their thermal and steelmaking coal businesses. Teck said a potential split would expose its shareholders to a large thermal coal business, an unwanted oil trading business and significant jurisdictional risk, all of which would negatively impact its value. Teck said more value can be created with the proposed restructuring announced earlier this year than the sale of the company.