Teck to sell all coal assets to Glencore, Nippon Steel, POSCO in $12 billion deal

Teck Resources Ltd. has agreed to sell its entire coal business, Elk Valley Resources (EVR), to Swiss commodities trading giant Glencore PLC and two Asian steelmakers, Japan’s Nippon Steel and South Korea’s POSCO, in a deal valued at approximately $12.25 billion (US$8.9 billion). The deal is expected to close by the third quarter of 2024, at the earliest, due to the expected length of the necessary government review.

Merger & Acquisition
Mining
$ 12,250,000,000
Closed
11 July 2024