Glencore to acquire 77% of Teck's steelmaking coal business for $6.93bn

Glencore entered a binding agreement to acquire a 77% effective interest in Teck's steelmaking coal business, Elk Valley Resources, for $6.93 billion in cash. Nippon Steel will hold a 20% equity interest and POSCO a 3% interest in EVR. The transaction is expected to close in Q3 2024.

“Glencore plc announces that it has entered into a binding agreement with Teck Resources Limited, for the acquisition of a 77% effective interest in the entirety of Teck’s steelmaking coal business, Elk Valley Resources, for US$6.93 bn in cash”glencore.com

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• glencore.comAcquisition of a 77% interest in Teck’s steelmaking coal business for US$6.93 bnNov 14, 2023

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