• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Canadian miner Teck considers sale, spinoff of $8 billion coal unit – Bloomberg News

September 14, 2021 by David Barret Leave a Comment

September 14, 2021

(Reuters) -Teck Resources Ltd, is exploring options for its metallurgical coal business, including a sale or spinoff that could value the unit at as much as $8 billion, Bloomberg News reported on Tuesday, citing sources.

Large commodity producers have been facing investor pressure to shift away from fossil fuel business, including by shedding assets, amid a push to reduce carbon emission and halt climate change.

The company is working with an adviser as it looks for strategic alternatives for the unit, the report https://bloom.bg/3lhsrsY said.

Teck Resources declined to comment on the report.

The company’s sales from its steelmaking coal unit was 6.2 million tonnes in the second quarter, a 24% jump from year earlier.

Steel prices has been rising since the second quarter, helped by higher demand for the metal as economies recover and demand picks up after being hit by the coronavirus pandemic.

The miner said in July that wildfires in British Columbia, Canada’s westernmost province, disrupted rail services and this was likely to weigh on its steelmaking coal business unit for the third quarter.

U.S. listed shares of the miner were up as much as 6.4% at $26.17 in afternoon trading.

(Reporting by Sahil Shaw and Rithika Krishna in Bengaluru; Editing by Arun Koyyur)

Source Link Canadian miner Teck considers sale, spinoff of $8 billion coal unit – Bloomberg News

David Barret
David Barret

Related posts:

  1. Fox Entertainment acquires TMZ from AT&T-owned WarnerMedia
  2. Australian home prices jump record 6.7% in Q2
  3. Universal Music Group publishes IPO prospectus ahead of $39 billion flotation
  4. Norway coalition talks start, with climate and oil in focus

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • 85-Million-Year-Old Dinosaur Eggs Dated Using “Atomic Clock For Fossils” For The First Time
  • Why Shouldn’t You Kiss Babies? New Study Shows Even Healthy Newborns Can Become Severely Ill With RSV
  • Earth Has A New Quasi-Moon – And It Has Probably Been Around For Decades
  • Want To Kill Your Prey? Do It Feather-Legged Lace Weaver Spider Style And Vomit All Over Them
  • IFLScience The Big Questions: Are We In The Anthropocene?
  • The Wildfire Paradox Affecting 440 Million People Has As Worrying A Solution As You’d Expect
  • AI May Infringe On Your Rights And Insult Your Dignity (Unless We Do Something Soon)
  • How Do You Study Cryptic Species? We’re Finally Lifting The Lid On The World’s Least Understood Mammals
  • Once-In-A-Decade Close Encounter With Hazardous Asteroid 2025 FA22 Approaches
  • With 229 Pairs, This Beautiful Animal Has The Highest Number Of Chromosomes Of Any Animal
  • “An Unimaginable Breakthrough”: Loudest-Ever Gravitational Wave Collision Proves Stephen Hawking Correct
  • Exciting Martian Mudstone Has Features That Might Be Considered Biosignatures
  • How Long Did Dinosaurs Live? “It’s A Big Surprise To People That Work On Them”
  • NASA’s Mysterious Announcement: “Clearest Sign Of Life That We’ve Ever Found On Mars”
  • New Brain Implant Can Decode Your Internal Monologue, Raising Fears Of Mind Reading
  • “Immediate, Sustained, And Devastating” Pain: The Most Venomous Mammal Packs An Extremely Nasty Sting
  • Domestic Cats Keeping Making Hybrids. That’s A Problem, And Yes – That Includes Some Pets
  • These Strange Little Lizards Have Toxic Green Blood, And No One Knows Exactly Why
  • How Does 2-In-1 Shampoo And Conditioner Work?
  • There Are 2-Billion-Year-Old “Millennium Rocks” In A Suburb, Hundreds Of Miles From Their Primeval Home
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version