Acquisition of Teck’s Steelmaking Coal Business by Glencore.

15 November 2023 – Reuters – Glencore

Glencore’s $6.93 billion acquisition of a 77% interest in Teck’s steelmaking coal business, Elk Valley Resources, highlights the significant value and importance of Canadian coking coal. The deal also highlights the ongoing demand for high-quality steelmaking coal essential for infrastructure and energy transition projects.

Valory Resources is pleased to see the strengthened market dynamics and increased investment in the region. We believe the acquisition by Glencore, a major player in the industry, can drive further development and operational efficiency in the area.

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