MiningWatch report question’s Swiss mining giant’s track record
Canadian and British mining watchdogs are criticizing the Trudeau government’s approval of the sale of B.C. steel-making coal mines to Glencore Plc, saying it’s a bad deal for Canada.
On July 4, Canada’s Minister of Innovation, Science and Economic Development, François-Philippe Champagne, approved the sale of 77 per cent of the B.C. metallurgical coal mines (Elk Valley Resources) owned by Teck Resources in the southeastern Kootenays to Glencore plc for $9.5 billion. The sale closed July 11.
Earlier, in January, the other 23 per cent of the Elk Valley Resources mines were sold to Nippon Steel (20 percent) and South Korean steel maker POSCO (three per cent).
The approval of Glencore’s acquisition of Elk Valley Resources under an Investment Canada Act review came earlier than expected, and is now being criticized in a report by MiningWatch Canada, London Mining Network and the Swiss human rights organization Arbeitsgruppe Schweiz-Kolumbien.
For the rest of this article: https://www.biv.com/news/environment/sale-of-bc-coal-mines-to-glencore-was-bad-deal-for-canada-report-9253237