{"id":47660,"date":"2023-04-28T10:25:56","date_gmt":"2023-04-28T10:25:56","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources"},"modified":"2023-04-28T12:45:53","modified_gmt":"2023-04-28T12:45:53","slug":"mining-giant-glencores-offer-still-stands-for-teck-resources","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources","title":{"rendered":"Mining giant Glencore’s offer ‘still stands’ for Teck Resources"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Swiss commodities giant Glencore said Thursday that its takeover offer for Teck Resources “still stands” after the Canadian miner opted to rethink its spin-off plans.The two companies have for weeks been locked in a clash over the future of Canada’s largest diversified mining company.<\/p>\n

A day after Teck decided to withdraw its plan to separate its steelmaking coal business, Glencore said in a statement that it took note of the decision.<\/p>\n

But the Swiss company, which is active in both commodity trading and mining, said it “confirms that its proposal still stands”.<\/p>\n

The Vancouver-based company has twice rejected hostile takeover bids by Glencore in recent weeks, urging shareholders to instead support its restructuring plans.<\/p>\n

Chief executive Jonathan Price said Wednesday that Glencore’s proposals “remain a non-starter” and vowed that Teck would continue pursuing an in-house solution.<\/p>\n

Glencore responded Thursday that it hoped the Teck board would “engage constructively in order to fully explore our proposal which has not been done to date”.<\/p>\n

It remains willing to make an offer directly to Teck shareholders “if there continues to be no engagement from the Teck board”, it added.<\/p>\n

Just hours before a shareholder vote Wednesday, Teck said it was not proceeding with a plan, announced in February, to split its metals and coal operations into two companies.<\/p>\n

It will now “pursue a simpler and more direct separation”, Price said.<\/p>\n

Teck Resources, one of the top mining companies in Canada, wants to focus on metals such as copper that are key to the global energy transition.<\/p>\n

It has warned that Glencore’s proposal would entail bringing the Swiss giant’s thermal coal into its business.<\/p>\n

Glencore earlier this month added an $8.2-billion cash component to its original $22.5-billion all-share offer, but it failed to sway Teck’s board.<\/p>\n

After its second knock-back, Glencore published an open letter to Teck shareholders saying it was willing to sweeten its takeover offer.<\/p>\n

Teck Resources controlling shareholder Norman Keevil has remained steadfastly opposed to a merger and Ottawa — which would need to approve any foreign takeover — has signalled its preference for the company to remain in Canadian hands.<\/p>\n

In a separate announcement, Glencore also said Thursday it was buying stakes in two mines owned by Norwegian group Norsk Hydro.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Swiss commodities giant Glencore said Thursday that its takeover offer for Teck Resources “still stands” after the Canadian miner opted to rethink its spin-off plans.The two companies have for weeks been locked in a clash over the future of Canada’s largest diversified mining company. A day after Teck decided to withdraw its […]<\/p>\n","protected":false},"author":84,"featured_media":47658,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,8,377],"tags":[274,315,1210,764,275,4986],"class_list":["post-47660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-to-homepage","tag-africa-press","tag-africa-press-south-africa","tag-glencore","tag-mining","tag-south-africa-2","tag-teck"],"yoast_head":"\nMining giant Glencore's offer 'still stands' for Teck Resources - South Africa<\/title>\n<meta name=\"description\" content=\"Swiss commodities giant Glencore said Thursday that its takeover offer for Teck Resources "still stands" after the Canad ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mining giant Glencore's offer 'still stands' for Teck Resources\" \/>\n<meta property=\"og:description\" content=\"Swiss commodities giant Glencore said Thursday that its takeover offer for Teck Resources "still stands" after the Canad ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-28T10:25:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-28T12:45:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/04\/postQueueImg_1682661380.64.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mining giant Glencore’s offer ‘still stands’ for Teck Resources\",\"datePublished\":\"2023-04-28T10:25:56+00:00\",\"dateModified\":\"2023-04-28T12:45:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources\"},\"wordCount\":399,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/04\/postQueueImg_1682661380.64.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"glencore\",\"mining\",\"South-Africa\",\"teck\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"homepage-english\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources\",\"name\":\"Mining giant Glencore's offer 'still stands' for Teck Resources - South Africa\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/04\/postQueueImg_1682661380.64.jpg\",\"datePublished\":\"2023-04-28T10:25:56+00:00\",\"dateModified\":\"2023-04-28T12:45:53+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"Swiss commodities giant Glencore said Thursday that its takeover offer for Teck Resources \\\"still stands\\\" after the Canad ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/04\/postQueueImg_1682661380.64.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/04\/postQueueImg_1682661380.64.jpg\",\"width\":1024,\"height\":768,\"caption\":\"Mining giant Glencore's offer 'still stands' for Teck Resources\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/south-africa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mining giant Glencore’s offer ‘still stands’ for Teck Resources\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#website\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/\",\"name\":\"South Africa\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/south-africa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Mining giant Glencore's offer 'still stands' for Teck Resources - South Africa","description":"Swiss commodities giant Glencore said Thursday that its takeover offer for Teck Resources \"still stands\" after the Canad ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources","og_locale":"en_US","og_type":"article","og_title":"Mining giant Glencore's offer 'still stands' for Teck Resources","og_description":"Swiss commodities giant Glencore said Thursday that its takeover offer for Teck Resources \"still stands\" after the Canad ...","og_url":"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources","og_site_name":"South Africa","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2023-04-28T10:25:56+00:00","article_modified_time":"2023-04-28T12:45:53+00:00","og_image":[{"width":1024,"height":768,"url":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/04\/postQueueImg_1682661380.64.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Mining giant Glencore’s offer ‘still stands’ for Teck Resources","datePublished":"2023-04-28T10:25:56+00:00","dateModified":"2023-04-28T12:45:53+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources"},"wordCount":399,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/04\/postQueueImg_1682661380.64.jpg","keywords":["Africa Press","Africa Press-South-Africa","glencore","mining","South-Africa","teck"],"articleSection":["all news","economy","head lines","homepage-english","to-homepage"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources","url":"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources","name":"Mining giant Glencore's offer 'still stands' for Teck Resources - South Africa","isPartOf":{"@id":"https:\/\/www.africa-press.net\/south-africa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/04\/postQueueImg_1682661380.64.jpg","datePublished":"2023-04-28T10:25:56+00:00","dateModified":"2023-04-28T12:45:53+00:00","author":{"@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"Swiss commodities giant Glencore said Thursday that its takeover offer for Teck Resources \"still stands\" after the Canad ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources#primaryimage","url":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/04\/postQueueImg_1682661380.64.jpg","contentUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/04\/postQueueImg_1682661380.64.jpg","width":1024,"height":768,"caption":"Mining giant Glencore's offer 'still stands' for Teck Resources"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/mining-giant-glencores-offer-still-stands-for-teck-resources#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/south-africa\/"},{"@type":"ListItem","position":2,"name":"Mining giant Glencore’s offer ‘still stands’ for Teck Resources"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/south-africa\/#website","url":"https:\/\/www.africa-press.net\/south-africa\/","name":"South Africa","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/south-africa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts\/47660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/comments?post=47660"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts\/47660\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/media\/47658"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/media?parent=47660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/categories?post=47660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/tags?post=47660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}