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Teck Resources Ltd
Symbol TECK
Shares Issued 503,097,912
Close 2024-12-27 C$ 58.83
Market Cap C$ 29,597,250,163
Recent Sedar Documents

Globe says Teck may see more jockeying for EV minerals

2024-12-30 07:31 ET - In the News

The Globe and Mail reports in its Saturday edition that when it comes to electric-vehicle batteries, there is no doubt that the big mining companies that produce battery metals will want more of each. The Globe's Eric Reguly, in his predictions for the new year, says that means 2025 will see another round of mergers and acquisitions. In 2024, Glencore completed the takeover of Teck Resources' coal division, allowing Teck to emerge as a near-pure copper company; Australia lithium producer Allkem finished merging with U.S. chemicals giant Livent to create a lithium producer with a $5.6-billion (U.S.) market value; and BHP made three attempts to buy rival Anglo American, each of which failed. Mining executives think Anglo cannot keep saying no and will lose its independence later this year, once it finishes a restructuring that will see the sale of its De Beers diamond business to focus on copper and iron ore. BHP might take another shot at it, but it would face competition. Rarity value could see the winning takeover offer land at well north of Anglo's market value of $57.9-billion. A key attraction is the company's 44-per-cent share of the Collahuasi mine in the Chilean Andes, one of the world's top copper reserves.

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