9,523.31 TRY BIST 100 BIST 100
5.25 CNY CNY CNY
40.95 EUR EUR EUR
37.93 USD USD USD
0.13 CNY CNY/EUR CNY/EUR
45.36 TRY Interest Interest
73.01 USD Fossil Oil Fossil Oil
33.28 USD Silver Silver
4.89 USD Copper Copper
102.77 USD Iron Ore Iron Ore
356.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,819.33 TRY Gold (gr) Gold (gr)

Glencore offers to buy Teck's coal business amid growing environmental concerns

Glencore offered to buy Teck Resources' steel and coal businesses as a separate unit on 12 June, after the Canadian mining company twice rejected a $22.5 billion offer to merge the two companies.

Glencore offers to buy Teck's coal business amid growing environmental concerns

Teck Resources said on 6 June that it had received several offers for its coal business as it revised its plan to separate from its copper-zinc division, which failed to receive sufficient shareholder support at the end of April.

Teck confirmed on Monday that it had reached agreement with Glencore on a coal offer. Glencore, which mines and sells thermal coal for steel production and a small amount of coking coal, said the two companies would separate their coal divisions.

Glencore CEO Gary Nagle said in May that the acquisition of Teck's coal business as a separate division was a "second target" for the Swiss mining company, which is still pursuing merger plans.

Other parties, including Canadian mining entrepreneur Pierre Lassonde and Japanese steelmaker Nippon Steel Corporation, are also interested.

As part of its initial offer, Glencore offered up to $ 8.2 billion in cash to Teck shareholders who did not want access to thermal coal.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Tax on scrap exports from Ukraine to Türkiye to remain in place

Thursday, April 3, 2025

OQGN partners with Hidrom to develop Oman's green hydrogen economy

Thursday, April 3, 2025

Steel billionaire Lakshmi Mittal announces relocation to the United Arab Emirates

Thursday, April 3, 2025

MKE to invest TRY 2 billion in defense industry

Thursday, April 3, 2025

Kardemir is 88 years old: A milestone in Türkiye's industrialization journey

Thursday, April 3, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now