Deals
Teck Resources Is Said to Plan Coal Spinoff to Focus on Metals
- Canadian miner is planning to separate met coal business
- Teck may announce move as early as next week with earnings
Teck Resources Elkview Operations coal mine.
Photographer: James MacDonald/Bloomberg
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Teck Resources Ltd. is planning to separate its multibillion-dollar steelmaking coal business to focus more on industrial metals.
The Canadian miner confirmed it’s “evaluating alternatives” for the operation, including “the possible spin-out of an interest in that business to its shareholders.” Bloomberg reported earlier Thursday that Teck was expected to announce plans to separate the division.