close
close

Teck Receives Regulatory Approval for Sale of Steelmaking Coal Business

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today announced that the sale of its remaining 77% interest in the steelmaking coal business, Elk Valley Resources (“EVR”), to Glencore plc (“Glencore”) has now received all necessary regulatory approvals. The transaction is now expected to close on July 11. Teck expects to receive total cash proceeds of US$6.9 billion (CAD $9.5 billion)1 from the sale of the 77% interest in EVR, excluding closing adjustments. “We are pleased that we will achieve a complete separation of the metals and…