The Globe and Mail reports in its Saturday edition that Teck is leaning toward selling only a portion of its coal business, according to Pierre Lassonde, who is hoping to emerge the victor in a continuing auction of the company. The Globe's Niall McGee writes that after a failed restructuring plan earlier in the year, Teck indicated its next move would likely be a clean split of the company. The market interpreted this to mean that it would retain its metals mines, and possibly sell its entire metallurgical coal division. "Teck is not focused on selling the entire thing," said Mr. Lassonde, chairman emeritus of Franco-Nevada Corp., the world's largest mining royalty company. Mr. Lassonde has been in contact with Teck on an almost daily basis since a consortium led by him tabled a buyout proposal for the coal unit last month. He said Teck is considering selling only a portion of the coal business in part because limiting the size of the deal would allow the company to avoid a shareholder vote. He added that Teck also wants to retain a stake in the coal business to feed its copper business, which is not generating anywhere near the level of cash that coal is. Teck needs financing for several growth projects.