Articles for tag: Chile, coal, Copper, ditches, flags, output, Teck

Teck’s Strategic Shift: Exiting Coal, Navigating Lower Copper Output in Chile

Posco traded its interest in two of Teck’s coal operations for a 3% stake in the overall steelmaking coal business. The transactions are part of an umbrella deal inked with Glencore (LON: GLEN) in November 2023, involving the Swiss miner and commodities trader paying $6.9 billion for 77% of Elk Valley Resources. The agreement with Glencore, which capped negotiations and takeover attempts initiated by the Baar-based firm, awaits regulatory review and is anticipated to finalize in the third quarter of 2024. Challenges in Copper Production Canada’s largest diversified miner highlighted a lower than anticipated 2023 production at Quebrada Blanca (QB),