The Financial Post reports in its Friday edition that Teck Resources has closed its previously announced deal to sell minority interests in its steelmaking coal business to Japan's Nippon Steel and South Korean steelmaker Posco. A Bloomberg dispatch to the Post says that the deal sees Nippon Steel acquire a 20-per-cent share of Teck's coal business, known as Elk Valley Resources, in exchange for its prior 2.5-per-cent interest in one of Teck's coal operations and $1.7-billion (U.S.) in cash. Posco swapped its interest in a pair of Teck's coal operations for a 3-per-cent stake in the overall steelmaking coal operation. The transactions are part of a broader deal announced by the Vancouver-based miner in November that will also see international giant Glencore PLC pay $6.9-billion (U.S.) for a 77-per-cent share of the company's coal business. Teck notes that the Glencore deal remains subject to regulatory review. Teck closed Thursday at $53.75, down 41 cents on the Toronto Stock Exchange.