The Globe and Mail reports in its Friday edition that Teck chief executive officer Jonathan Price says he is pleased with the progress the Canadian miner has made in talks with parties interested in buying its coal business, but he has made it clear a transaction will only be consummated under certain circumstances. The Globe's Niall McGee writes that in April, Teck called off a planned split of the company into stand-alone metals and coal units after failing to obtain sufficient support from shareholders. Since then, the company has been entertaining merger and acquisition opportunities for the coal business. Several bidders are already known, including Glencore of Switzerland, Japan's Nippon Steel and a consortium led by mining veteran Pierre Lassonde. In a conference call with analysts Thursday, after the release of the company's second-quarter earnings, Mr. Price said there has been "a lot of interest" in the coal business -- both for all or just a part of it -- and that Teck is keeping an open mind. However, given the vast profitability of the coal business, he said Teck will only do a deal if the stars align. "We will transact only if the benefits to our shareholders and other stakeholders are clear," he said.