Telah Terbit: Nov 15, 2023 18:17
According to SMM, a consortium led by Glencore (GLEN.L) has reached one of the largest mining deals in years, agreeing to acquire the steelmaking coal division of Canadian mining company Teck Resources (TECKb.TO) for US$9 billion. Glencore will acquire 77% of the business through a cash transaction of US$6.9 billion, with 20% of the shares going to Japan's Nippon Steel (5401.T), which already holds a 2.5% stake. South Korea's POSCO (005490.KS) will exchange its shares in two of Teck's coal businesses for a 3% stake in steelmaking coal company Elk Valley Resources (EVR). The deal is expected to be completed in the third quarter of 2024.

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According to SMM, a consortium led by Glencore (GLEN.L) has reached on - Shanghai Metals Market (SMM)