Norman B. Keevil likely won’t be shedding any tears if Teck Resources Ltd. sells its core coal business. Teck’s chairman emeritus, who first joined Canada’s biggest base metals company in the 1960s, says Teck has always evolved with the times, dipping into one commodity, then moving on to another, based on market demand.
“You should read my book. It’s called Never Rest on Your Ores,” Mr. Keevil said in an interview. “Teck started as a gold company, and then it became a copper company.
Then it went into silver and niobium. On the way, it got into coal as a minor part of what we were doing. And it’s only since 2003 that coal has been a big position when we put the various Western producers together into a single partnership.”
Investors are waiting for more details from Teck on the fate of that coal division. On Tuesday, the company’s chief executive officer, Don Lindsay, will hold an investor and analyst day, and the coal business will likely take centre stage.
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