The miner's Q4 profit missed estimate, partly dented by its overall steelmaking coal business that slumped more than 40% in the period
FILE PHOTO: Visitors pass a logo of Teck Resources Ltd mining company during the PDAC convention in Toronto -Teck Resources Ltd said on Tuesday it would be spinning off its steelmaking coal unit as the Canadian miner focuses on industrial metals such as copper, which are crucial to the global energy transition.
"This transaction will unlock the full potential of our...copper growth portfolio, which is significantly undervalued" added Price. Teck will receive an 87.5% interest in gross revenue royalty from the steelmaking coal business through the transition period. The miner expects the transaction to be completed in the second quarter of 2023.
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Teck Resources changes name to Teck Metals, spins off steelmaking coal unitTeck Resources has changed its name to Teck Metals and will spin off its steelmaking coal unit as Elk Valley Resources Ltd. Read more.
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Teck Resources changes name to Teck Metals, spins off steelmaking coal unitTeck Resources has changed its name to Teck Metals and will spin off its steelmaking coal unit as Elk Valley Resources Ltd. Read more.
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Teck Resources to split company and spin off steelmaking coal businessTeck Resources Ltd. has announced a plan to split the company into Teck Metals Corp. and Elk Valley Resources Ltd., which will hold its steelmaking coal business.
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Canadian miner Teck Resources changes name, plans to spin off steelmaking coal unitThe unit has been plagued by several snags in the past three years, including supply-chain disruptions, adverse weather events, labor shortages and an outage at Elkview plant
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Teck to spin off coal business into Elk Valley ResourcesCanadian diversified miner Teck Resources on Tuesday announced the reorganisation of its business into two independent, publicly listed companies. The company would change its name to Teck Metals and would spin off its steelmaking coal business into Elk Valley Resources (EVR). CEO Jonathan Price said that the transaction simplified the portfolio of each company, allowing for strategic and financial focus and the ability to pursue tailored capital allocation strategies.
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The Daily Chase: Inflation slows in January; Teck Resources spins off steelmaking coal business - BNN BloombergIt appears the Bank of Canada’s inflation-busting battle plan is gaining some traction.
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