Photo of a large haul truck at Teck Resource’s Elkview operation near SparwoodDave Lueneberg, Local Journalism Initiative Reporter

The expected new majority owner of Teck Resources’ Elk Valley mining operations met with municipal leaders Nov. 21, exactly a week after announcing its agreement to purchase a 77 per cent stake from Teck.

Swiss-based Glencore invited local government representatives, including the mayors of Elkford, Fernie, Sparwood and Crowsnest Pass, to a session to outline some of its future goals and answer questions about the anticipated sale.

“I got a really good feeling from what we heard,” said Crowsnest Pass Mayor Blair Painter, following the meeting. 

“They’re a coal mining company. Everyone in the room, there, was involved in coal mining. So, they know the industry,” Painter said.

“They’re very happy to take over a company as good as Teck. They feel it’s a very well-operated company and it will continue to operate that way.”

While Elk Valley Resources and Teck’s mining operations are just across the border in British Columbia, a number of its employees travel over from our region.

“A good chunk, roughly one-third, come from Crowsnest Pass and, as a community, we have a vested interest in Teck and the sale to Glencore. We’re really hoping the commitment we’ve seen in the past will be the same or better,” the mayor added.

Besides municipal leaders, Glencore had also planned to meet with Indigenous groups last Wednesday, ahead of a trip to Ottawa to speak with federal officials.

The buyout of EVR, made public on Nov. 14, and still subject to all the necessary regulatory approvals, would see Glencore pay US$6.9 billion, with Japan-based Nippon Steel Corp., coming in as a partner, spending US$1.3 billion, once it turns over its Elkview interests.

By Dave Lueneberg, Local Journalism Initiative Reporter

Original Published on Nov 30, 2023 at 10:19

This item reprinted with permission from   Shootin' the Breeze   Pincher Creek, Alberta

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