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Glencore Buys Majority Stake in Teck Resources' Coal Unit for $6.93 Billion

Provided by Dow Jones

Nov 14, 2023 7:27am

By Christian Moess Laursen

Glencore said it has bought a 77% stake in Canadian miner Teck Resources' steelmaking coal business for $6.93 billion.

The Anglo-Swiss mining giant said Tuesday that the transaction is expected to close in the third quarter of next year.

The Wall Street Journal reported overnight that the companies were nearing a deal, citing people familiar with the situation.

Write to Christian Moess Laursen at christian.moess@wsj.com

(END) Dow Jones Newswires

November 14, 2023 02:27 ET (07:27 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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