On July 20, 2022, Teck Resources Limited ("Teck") entered into an agreement with PolyMet Mining Corp. ("PolyMet") to establish a 50:50 joint venture named NewRange Copper Nickel LLC. The partnership aimed to progress PolyMet Mining Inc’s NorthMet Project and Teck’s Mesaba mineral deposit. Glencore plc ("Glencore") maintained its majority equity stake in PolyMet and pledged financial backing for its portion of the joint venture's funding. Don Lindsay, President and CEO, remarked that the collaboration would consolidate two significant mineral resources located in Minnesota's Iron Range mining district. Lindsay emphasized that the partnership was positioned to unearth a new local source of essential metals, supporting the transition towards low-carbon energy via sustainable mining practices. The deal's completion hinged on standard closing conditions, including acquiring all necessary regulatory clearances.