by Commodities giant Glencore is taking control of Canadian Teck’s steelmaking coal business. Share Facebook Twitter E-mail Print Copy link The Zug-based group will pay .93 billion (CHF6.2 billion) in cash to buy a 77% stake in the Elk Valley Resources (EVR) division. EVR produced 21.5 million tonnes of steelmaking coal and posted pre-tax profits of C.0 billion in 2022, Glencore detailed in a press release on Tuesday. The transaction is not expected to result in any headcount reductions in Canada, while EVR will step up its capital expenditure and research in this North American country. Send us your input [embedded content]
Topics:
Swissinfo considers the following as important: 3) Swiss Markets and News, 3.) Swissinfo Business and Economy, Featured, Latest News, newsletter
This could be interesting, too:
RIA Team writes The Importance of Emergency Funds in Retirement Planning
Nachrichten Ticker - www.finanzen.ch writes Gesetzesvorschlag in Arizona: Wird Bitcoin bald zur Staatsreserve?
Nachrichten Ticker - www.finanzen.ch writes So bewegen sich Bitcoin & Co. heute
Nachrichten Ticker - www.finanzen.ch writes Aktueller Marktbericht zu Bitcoin & Co.
Commodities giant Glencore is taking control of Canadian Teck’s steelmaking coal business.
The Zug-based group will pay $6.93 billion (CHF6.2 billion) in cash to buy a 77% stake in the Elk Valley Resources (EVR) division.
EVR produced 21.5 million tonnes of steelmaking coal and posted pre-tax profits of C$6.0 billion in 2022, Glencore detailed in a press release on Tuesday.
The transaction is not expected to result in any headcount reductions in Canada, while EVR will step up its capital expenditure and research in this North American country.
Tags: Featured,Latest news,newsletter