Teck Resources, one of the last Canadian-controlled mining companies of any size, has been in the news a lot in recent months – for all the wrong reasons.
In December, the Vancouver company emerged as one of the bogeymen at the climate change summit in Madrid, where Canadian Environment Minister Jonathan Wilkinson was peppered with questions about Teck’s proposed $20-billion Frontier oil sands projects in northern Alberta.
If cabinet were to approve the project, his climate change plan would lose all credibility on the world stage. But Teck killed Frontier in February, sparing cabinet from having to make a no-win decision.
Now, the company is under attack by at small but powerful gaggle of international activist funds that are not happy with their investment returns.
The two creating the most fuss are Tribeca Investment Partners of Australia, which in 2017 urged mighty BHP Group Ltd. to unload its U.S. oil and gas shale assets (it did), and Palm Beach-based Impala Asset Management.