Teck Resources Ltd. confirmed that it has received interest from several parties regarding various forms of potential transactions involving its coking coal business.
As previously reported, Teck is pursuing a separation of its base metals and metallurgical coal businesses, as Teck Metals and Elk Valley Resources (EVR), respectively. The company said it continues to consider and evaluate all actionable, value-accretive proposals received relating to its steelmaking coal business to determine whether they are in the best interests of Teck’s shareholders and other stakeholders.
“Teck’s Board will appropriately consider and evaluate any proposal that can unlock the tremendous potential of Teck’s premium businesses and portfolio of high-quality assets as part of our ongoing work to continue building a great mining business and realize value for shareholders,” said Sheila Murray, chairman, Teck Resources. “We are also resolved to identify a path that ensures continued responsible operations in the Elk Valley and supports a sustainable future for the benefit of employees, local communities and Indigenous Peoples.”
“There is widespread recognition in the market today of the value of our high-margin, long-life steelmaking coal assets, which has, in turn, generated considerable interest from various parties,” said Jonathan Price, CEO. “Our focus on separation is to unlock the full potential of our unparalleled copper growth business and create significant value and opportunity for our shareholders and all stakeholders.”