Posted on : 07-10-2023 | Author : Bloomberg
Canadian mining company Teck Resources is targeting an announcement regarding the separation of its coal and metals businesses by the end of 2023, according to CEO Jonathan Price. The company has been considering selling its coal unit as part of a comprehensive business review initiated by a takeover bid from Glencore earlier this year. Among the potential suitors for a stake in Teck's coal division is India's JSW Steel. Price mentioned that the recent diplomatic tension between India and Canada was not impeding the process. Ties between the two nations soured after Canadian Prime Minister Justin Trudeau suggested that New Delhi may have been involved in the murder of a Sikh separatist advocate in British Columbia, an allegation India strongly denies.