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Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) has announced the completion of the sale of its remaining 77% interest in the steelmaking coal business to Glencore plc. The transaction resulted in total cash proceeds of $7.3 billion, subject to customary closing adjustments.
Strategic Move to Focus on Core Operations
The sale of the steelmaking coal business marks a strategic shift for Teck Resources as it sharpens its focus on its core operations, primarily in the copper and zinc sectors. This move aligns with Teck’s commitment to responsible resource development and supporting the global energy transition.
About Teck Resources
Teck Resources is a prominent Canadian resource company with a robust portfolio of world-class copper and zinc operations across North and South America. The company is renowned for its industry-leading copper growth pipeline and its dedication to creating value through responsible growth and resilience, underpinned by strong stakeholder trust.
Headquartered in Vancouver, Canada, Teck Resources is publicly traded on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and on the New York Stock Exchange under the symbol TECK.
Strengthening the Copper and Zinc Operations
With the proceeds from the sale, Teck Resources plans to invest further in its copper and zinc operations, which are vital to economic development and the global energy transition. Copper is especially crucial for renewable energy systems and electric vehicles, while zinc is essential for corrosion protection and infrastructure development.
Commitment to Responsible Growth
Teck’s strategy emphasizes advancing responsible growth initiatives that contribute to sustainability and long-term resilience. The company’s focus on stakeholder trust and community engagement ensures that its operations not only drive economic development but also foster positive environmental and social impacts.
