Gary Nagle is suggesting Glencore Plc will continue its pursuit of Teck Resources Ltd. Find out more.
So far, Teck’s class A shareholders — whose shares carry 100 votes apiece compared with one vote for each class B share — have voiced only opposition to Glencore’s bid. They largely control the situation through their large voting position.whether to give Price a green light to place Teck’s coal business in a company that would send roughly
“Our climate change strategy is to responsibly run down our coal mines,” Nagle said April 14 at Glencore’s Toronto office on the 69th floor of a downtown skyscraper.“Look how profitable coal’s been” for both Teck and Glencore over the past year, said Nagle. “Look how important coal has been for the world — Europe imported nearly double the amount of steam coal in 2022 that it did in 2021.”Photo by HO/Teck Resources Ltd.
It still produces steelmaking coal, which is different than thermal coal in that it is still necessary to make steel. T Under Price’s plan, shareholders would receive shares in both the copper and the coal companies, and could then sell at any time. The steelmaking coal company
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