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POSCO, Nippon Steel Finalize Stakes in Canadian Met Coal Business
01/04/2024 - Nippon Steel Corp. and POSCO have closed on acquisitions of minority stakes in Teck Resources Ltd.'s metallurgical coal operation.
According to Teck Resources, Nippon Steel has taken a 20% stake in Elk Valley Resources while POSCO has acquired a 3% interest in the business.
The remaining majority interest in the business is being sold to Glencore PLC under a deal expected to close in the third quarter of this year. Teck agreed to sell the Elk Valley operation to Glencore in November.
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