The Globe and Mail reports in its Friday edition that Teck Resources on Wednesday announced a $500-million stock repurchase plan. The Globe's Andrew Willis writes that Teck, the country's largest mining company, agreed last year to sell its coal mines in British Columbia's Elk Valley for $8.9-billion (U.S.) to a consortium made up of Switzerland's Glencore PLC and steelmakers in Japan and South Korea. Teck needs federal government approval on the Glencore purchase, which is expected to close by September. In January, Teck finalized the sales to Nippon and Posco, raising $1.3-billion (U.S.). On Wednesday, Teck said its share buyback is part of a plan to use a minimum of 30 per cent of available cash for share repurchases. Over the past five years, Teck spent $2.5-billion on buybacks. In a report, analyst Orest Wowkodaw at Scotia Capital predicts the company will buy back up to $2.5-billion (U.S.) of stock after the sale to Glencore closes. Teck said expansion of its Quebrada Blanca copper mine in Chile is on schedule, after numerous delays and cost overruns. The budget on the project remained at $8.7-billion (U.S.). Teck sold a record $3.43-billion of copper in 2023, up from $3.38-billion the previous year.