OPINION: If Teck Resources is sold to Glencore, Canada’s loss will go beyond mining – by Jen Hansen (Globe and Mail – April 20, 2023)


Jen Hansen is the co-chair of the mining group at Cassels Brock & Blackwell LLP.

Recent headlines have brought a Canadian company, Teck Resources, into the spotlight as the recipient of multiple offers from a foreign buyer, Swiss mining giant Glencore, with likely more to come. If you aren’t involved in the Canadian mining space or perhaps don’t consider yourself supportive of mining, you may want to start paying attention.

The acquisition of an iconic Canadian company by a foreign buyer can have a far-reaching impact. I hope that does not happen, and my desire to see Teck remain a Canadian company goes well beyond a sentimental feeling about ownership and history.

Teck produces several critical minerals important to Canada’s, and the world’s, transition to a low-carbon economy. But the company also does a lot of social good. It is a national champion supporting local communities.

It is a leader in environmental, social and governance (ESG) practices. These efforts involve long-term strategy and commitment and would not be the same under a distant owner with different priorities.

For the rest of this column: https://www.theglobeandmail.com/business/commentary/article-teck-resources-glencore-canada-loss/