Nippon Steel still interested in investing in Teck’s steelmaking coal arm

Reuters | June 13, 2023 | 7:38 am Top Companies Canada Coal

Teck’s Fording River metallurgical coal operation in B.C. Credit: Teck Resources

Nippon Steel remains interested in Teck Resources’ steelmaking coal assets, a spokesperson said on Tuesday, adding that talks continue despite Glencore’s latest offer for the Canadian miner’s coal business.

Swiss trading and mining firm Glencore on Monday offered to buy Teck’s steelmaking coal business as a standalone unit, after the Canadian miner twice rebuffed its $22.5 billon offer to combine the two companies.

Nippon Steel’s spokesperson declined to comment on Glencore’s latest proposal.

(By Yuka Obayashi; Editing by Katya Golubkova and Sonali Paul)