‘Easier deal to swallow’ — B.C. politicians soften their stance as Glencore buys Teck’s coal mines – by Naimul Karim (Financial Post – November 22, 2023)

https://financialpost.com/

Two dozen commitments agreed by the Swiss mining giant reassure community leaders

The mayors of two towns in British Columbia’s southeastern Kootenay region weren’t too happy when Glencore PLC first tried to buy Teck Resources Ltd. and its four steelmaking coal mines.

Six months on, however, both mayors seem to have changed their point of view now that Glencore is set to take over most of Teck’s coal mines for about US$7 billion. One of them even hopes the Swiss mining giant can help build more homes to address the region’s housing shortage.

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This Coal Giant Now Wants to Get Out of Coal – by Julie Steinberg (Wall Street Journal – November 19, 2023)

https://www.wsj.com/

Glencore Chief Executive Gary Nagle made his name running the commodity giant’s sprawling coal operations. Now he’s leading an effort to get the company out of coal altogether.

Glencore this past Tuesday agreed to a multibillion-dollar deal that will eventually rid it of its coal mines, a move that represents the company’s biggest strategic shift in years. That leaves it to focus on bolstering its position as a major supplier of the metals needed for electric-vehicle batteries and other green technologies.

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From bad blood and public bashing to an $8.9-billion deal: How Teck made nice with Glencore – by Niall McGee (Globe and Mail – November 18, 2023)

https://www.theglobeandmail.com/

Back in the spring, Teck Resources Ltd. suffered one of the biggest blows in its more than 100-year history. At the 11th hour, Canada’s biggest diversified mining company called off a restructuring that had been years in the making, after failing to garner enough support from shareholders.

On the day of that grim announcement, the atmosphere at Teck’s annual general meeting was akin to that in a morgue. Teck’s sombre-faced chief executive officer Jonathan Price and its board of directors were forced to publicly accept blame for putting forward a poorly conceived restructuring.

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Mining company takes BC government to court over permitting delays – by Rachael Lesosky (Hamilton Spectator – November 16, 2023)

https://www.thespec.com/

Taranis Resources Inc. has been waiting 15 months for a decision on its mining exploration permit application for its Thor project near Trout Lake, in Ktunaxa traditional territory northeast of Nakusp. The Canadian mining company believes that First Nation consultation is holding things up, and has filed a petition with the British Columbia Supreme Court.

“We believe the government is unwilling to do its legal duty [to grant the permit] because of First Nation pressure,” said Taranis President and CEO John Gardiner in an October 16 press release.

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Teck coal sell-off a green politics manoeuvre – by Terence Corcoran (Financial Post – August 17, 2023) https://financialpost.com/

https://financialpost.com/

Green promise may not play out as imagined

Somewhere within the machinations of Canada’s largest mining corporation the goal of increasing shareholder gains must still exist in some form, although the latest developments around Teck Resources does make one wonder.

The news Tuesday that the mining giant has agreed to sell its steelmaking coal operations to Swiss mining giant Glencore and companies in Japan and Korea for an “implied value” of $9 billion popped Teck shares to $52, a gain of eight per cent on the day. But the pop didn’t last long.

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Glencore-Teck deal reveals the irony of coal: Profitable and vital, yet endlessly shunned – by Heather Exner-Pirot (Globe and Mail – November 17, 2023)

https://www.theglobeandmail.com/

Heather Exner-Pirot is the director of energy, natural resources and environment at the Macdonald-Laurier Institute.

In many ways, the US$8.9-billion deal Glencore has struck for Teck Resources’ coal assets represents an elegant split that plays to each company’s strengths.

Teck, the Canadian miner, can now focus on its core base metals business, in particular copper, as it bets on strong returns in the years to come. Swiss commodities giant Glencore can build up its coal empire, adding the steelmaking coal assets to its vast thermal coal trade.

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OPINION: Ottawa sets out clear path for Glencore’s purchase of Teck’s coal mines – by Andrew Willis (Globe and Mail – August 17, 2023)

https://www.theglobeandmail.com/

The federal government is giving Switzerland’s Glencore PLC a clear path to acquiring Canada’s largest coal miner from Teck Resources Ltd., while making it clear Ottawa will block any foreign player bidding for all of Teck itself, the country’s critical minerals champion.

Although federal officials previously signed off on acquisitions of major metals producers – so long Inco Ltd., farewell Alcan Inc. – the current regime signalled a more protectionist, nationalist approach this week during a news conference at a condo construction site in Toronto.

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Teck to sell coal business to Glencore, Nippon Steel and POSCO in US$8.9-billion deal – by Niall McGee (Globe and Mail – November 14, 2023)

https://www.theglobeandmail.com/

Teck Resources Ltd. has agreed to sell its coal business to Swiss commodities trading giant Glencore PLC and two Asian steelmakers, in a US$8.9-billion transaction that requires federal approval, and will be closely scrutinized by Ottawa before it can proceed.

Vancouver-based Teck has been fielding offers for its core metallurgical coal business since the spring, when an earlier plan to spin it off was cancelled at the eleventh hour because of insufficient shareholder support. Founded in 1913, Teck is Canada’s largest diversified mining company, a major employer in British Columbia and one of the oldest miners in the country.

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U.S., Canada and Ktunaxa Nation to discuss coal-mining pollution in Kootenai River watershed (Montana Free Press – November 9, 2023)

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At the first-of-its-kind meeting, representatives of U.S., Canadian and tribal governments will discuss water quality impacts stemming from an expansive coal-mining operation in British Columbia.

After years of delays and false starts, eight governments impacted by an expansive Canadian coal-mining operation are set to meet today on Indigenous territory in Cranbrook, British Columbia, to discuss the future of the governments’ shared waterways.

The meeting will include representatives from the federal governments of the United States and Canada and the Ktunaxa Nation Council, which advocates for the interests of six bands of Indigenous people spread across present-day British Columbia, Montana and Idaho. The council, which includes representation from the Confederated Salish and Kootenai Tribes, has for years asked for greater oversight of Teck Resources’ British Columbia-based coal-mining operation.

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‘No is a valid outcome of consultation,’ groups fighting Taranis’s Thor copper project in B.C. say – by Henry Lazenby (Northern Miner – November 7, 2023)

https://www.northernminer.com/

A dispute between Taranis Resources (TSXV: TRO; US-OTC: TNREF), the British Columbia government and First Nations groups over the Thor polymetallic project is brewing over deep drilling exploration permit delays.

On October 16, Taranis escalated the battle to the B.C. Supreme Court, seeking to bypass what it says are excessive delays in the permitting process. At issue is Taranis’ complaint against the B.C. Ministry of Energy, Mines and Low Carbon Innovation (EMLI).

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B.C. First Nation challenges claim-staking procedure – by Peter Best (Financial Post – November 7, 2023)

https://financialpost.com/

Last month, Australians were allowed their say on a constitutional amendment that proposed giving Indigenous groups a new lever of control over the country’s federal institutions. Called “The Voice,” it would have empowered a native assembly to make representations directly to parliament to promote Indigenous political objectives.

Although it was claimed The Voice did not entail a veto or effective control over government decisions, the referendum’s foundational document asserted that native sovereignty “co-exists with the sovereignty of the Crown.” In effect, The Voice was to be a parallel source of authority alongside traditional Western-style democracy and law-making.

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Canada, U.S. to meet with Indigenous leaders in B.C. over pollution issues (Canadian Press/Business In Vancouver – November 1, 2023)

https://biv.com/

Indigenous groups in both countries have been clamouring for years for a bilateral investigation of selenium contamination from B.C. coal mines owned by Teck Resources

Canadian and U.S. officials are expected to meet next week with Indigenous leaders as they work on cleaning up toxic mining run-off that’s polluting waters on both sides of the border.

Ktunaxa Nation officials say the meeting will take place Nov. 9 on Indigenous territory in Cranbrook, B.C. Indigenous groups in both countries have been clamouring for years for a bilateral investigation of selenium contamination from B.C. coal mines owned by Teck Resources.

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Gitxaala First Nation appeals BC Supreme Court decision on UNDRIP – by Nelson Bennett (Business in Vancouver/Mining.com – October 26, 2023)

https://www.mining.com/

The Gitxaala First Nation is appealing a recent BC Supreme Court decision that found, among other things, that the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP) has no force in law in BC.

The Gitxaala also want the Court of Appeal to do what the BC Supreme Court refused to do – quash several mineral claims in their traditional territories.

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As Teck weighs offers for coal business, likelihood of regulatory approval a factor – by Amanda Stephenson (CTV News/Canadian Press – October 24, 2023)

https://bc.ctvnews.ca/

The head of Teck Resources Ltd. says he will only accept a bid for the company’s steelmaking coal business if he feels confident Canadian regulators will approve the transaction. Jonathan Price, CEO of Canada’s largest diversified mining company, made the comments on Tuesday as part of an update on Teck’s ongoing efforts to separate its base metals business from its steelmaking coal unit.

Price said the Vancouver-based company continues to evaluate offers put forward by prospective buyers of its coal business with the hope of making a decision before the end of the year. While he said he is pleased with the level of outside competition the process has generated, Price said regulatory clearance will be a crucial factor.

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How you can shape B.C.’s push to become a global supplier of critical minerals – by Chad Pawson (CBC News British Columbia – October 20, 2023)

https://www.cbc.ca/

Province seeks feedback as it aims for official strategy in early 2024

B.C.’s provincial ministry responsible for mining is looking for input on a discussion paper to guide the province as it tries to become a global supplier of critical minerals, while also respecting First Nations’ rights and protecting the environment.

The Ministry of Energy, Mines and Low Carbon Innovation wants to take advantage of minerals deemed critical for technologies such as batteries, electric vehicles, wind turbines and solar panels that are hoped to help the world slow the pace of climate change.

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