By Divya Rajagopal
TORONTO (Reuters) – Teck Resources said on Tuesday it has received several indications of interest for its steelmaking coal business, without giving further details.
The Canadian miner’s statement comes a little over a month after it withdrew an initial plan to separate its copper and coal business that failed to secure enough shareholder support, promising to come back with a “simpler and more direct” split.
Teck is also trying to fend off a $22 billion takeover bid by Swiss trader and miner Glencore Plc
On Tuesday, it said that its board will evaluate all “actionable, value-accretive proposals” before making a decision, adding however that there is no assurance on whether these conversations will result into a transaction.
Canadian mining entrepreuner Pierre Lassonde has put together a consortium to invest in Teck. In a text message to Reuters yesterday, Lassonde said that they have signed a confidentiality agreement with Teck. “There are many Canadians who have been incredibly supportive of keeping Elk Valley in Canadian hands,” Lassonde said to Reuters.
Japanese steel maker Nippon Steel Corporation has also said that they are engaged with Teck to invest in the coal business.
(Reporting by Mrinalika Roy,Divya Rajagopal; Editing by Devika Syamnath)
