Teck Resources\u0027 CEO said his plan for the miner was preferable to Glencore\u0027s because it ensured critical mineral security. Read on.
Still, all foreign investments, regardless of size or level of control, are subject to a national security review. In 2010, former prime ministerBHP Group Ltd.’s attempt to purchase Potash Corp. of Saskatchewan on the grounds that it was in Canada’s interests to retain domestic ownership of a vital food nutrient.
from its Quebrada Blanca 2 project in Chile, a project that is expected to double the company’s copper production in the near future.Article content Price’s move was announced in February and shareholders are set to vote on the separation proposal on April 26.Glencore aims to follow a similar structure after merging with Teck, and Nagle said he believes his offer is “materially better” than Price’s plan, since it would create the world’s third-largest copper company alongside a big publicly traded coal company. In the case of Glencore’s proposal, the two companies would act as stand-alone firms right from the start.
A key issue in the struggle over Teck is which bid would make the company greener. Many institutional investors now want nothing to do with fossil fuels, depressing demand — and therefore, the value — of stocks linked to producers of coal and oil and natural gas.
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