TECK - Why Canadian Mining Company Teck Resources' Shares Are Rising Today | Benzinga
Teck Resources Ltd (NYSE: TECK) shares are trading higher today as the company disclosed the sale of its full stake in the steelmaking coal business, Elk Valley Resources (EVR), for $9.0 billion yesterday.
The Canadian miner is selling the coal business' 77% stake to Glencore PLC (OTC: GLNCY) for $6.9 billion in cash.
Related: Glencore's Strategic Play: A Proposal to Acquire Teck Resources' Steelmaking Coal Business
Also, Nippon Steel Corp (OTC: ...