Glencore makes offer for Teck’s steelmaking coal business

This post was originally published on this site

Teck Resources said on June 6 it had received several proposals for its steelmaking coal business.

Glencore, which mines and trades thermal coal, the fossil fuel used to produce electricity, said it would demerge the coal units of both companies.

Boss Gary Nagle in May said that buying Teck’s coal business as a standalone unit was a “distant second” for the Swiss mining company, as it still pursues its merger plans.