In FEBRUARY TECK RESOUrCES finally announced its slow move into the future. The Canadian miner plans to spin off its relatively dirty steelmaking-coal operations. Under the plan, Teck would focus on mining copper and zinc, while continuing to get the majority of the severed coal company’s profits. Holders of Teck’s super-voting “class A” shares would retain control over the rump firm’s strategic moves for six years. After that its dual-shareholding structure would be scrapped.
Glencore, a much bigger commodity firm based in Switzerland, has something much more radical in mind. It proposes a merger between it and Teck that would then create two giant versions of Teck’s proposed
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