Glencore Should Keep Its Coal Mines, Investor Tribeca Says
- Glencore plans to spin off coal unit when Teck deal completes
- Coal mine ownership is a controversial subject in the industry
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Glencore Plc should keep its coal business even after it completes a deal to buy Teck Resources Ltd.’s coal-mining unit, according to shareholder Tribeca Investment Partners.
Coal mine ownership has long been a controversial subject in the industry. Most of Glencore’s peers have exited the dirtiest fuel amid investor pressure, while the company long argued it would be the best custodian of its assets.