The Globe and Mail reports in its Friday edition that Teck Resources intends to exit its coal business, but in the event of only a partial sale, would spin off the remainder to ensure a clean break. The Globe's Niall McGee writes that the Vancouver miner has been entertaining a variety of bids for its metallurgical coal business since late April after an earlier restructuring plan failed. Teck chief executive officer Jonathan Price said in a conference call last month that there has been "a lot of interest" in the coal business since it was put out for tender. Glencore PLC is the only known bidder for 100 per cent of the coal segment, with an offer worth up to $8.2-billion (U.S.). While that would appear to give Glencore a competitive advantage, Teck could also go the route of selling only a portion of the business to another party, and spinning off the remainder to its shareholders, if it deems that to be a better deal for stakeholders. Several contenders other than Glencore have emerged in recent months, submitting bids for only a portion of the coal business. Those include a consortium led by mining promoter Pierre Lassonde, as well as a bid from Japan's Nippon Steel. Teck declined to comment on the record.