
Coal News & Price Data – November 14, 2023 – Glencore wins Teck’s Met Business
Glencore has acquired a 77% stake in Teck Resources’ Elk Valley Resources (EVR) for $6.93 billion.

Glencore has acquired a 77% stake in Teck Resources’ Elk Valley Resources (EVR) for $6.93 billion.

Teck raised the cost estimate for its Quebrada Blanca 2 copper project due to further construction delays.

Teck Resources is considering more than just the highest bid for the sale of its metallurgical coal assets.

Met names got a lift yesterday with an update of the B Riley price deck and flow through share price target upgrades.

BTU, ARCH & TECK Earnings

This ongoing saga continues, and from my vantage Glencore is strategically out maneuvering Teck’s management.

Teck Resources rejected an unsolicited acquisition proposal from Swiss commodity trader and mining company Glencore.