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Glencore in no rush to spin-out coal despite Teck plan

Peter Ker
Peter KerResources reporter

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Glencore chief executive Gary Nagle said investors are not pushing for his Australian-dominated coal business to be separated from Glencore’s critical minerals mines, despite such a split being a central part of his $US23 billion ($43 billion) plan to merge with Canadian miner Teck Resources.

Teck formally rejected Glencore’s plan to execute the biggest mining deal in a decade by merging the two companies into “GlenTeck” on Tuesday.

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Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com

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    Original URL: https://www.afr.com/companies/mining/glencore-in-no-rush-to-spin-out-coal-despite-teck-plan-20230404-p5cy4o