Teck Resources reported its first-quarter profit fell compared with a year ago, ahead of a key shareholder vote Wednesday on its plan to split the company's metals and steelmaking coal businesses into two separate companies.
, ahead of a key shareholder vote Wednesday on its plan to split the company's metals and steelmaking coal businesses into two separate companies.
The unsolicited pursuit of what is Canada's largest diversified mining company by an international giant has triggered sentiments of economic nationalism. "We need companies like Teck here in Canada," stated the letter, which was signed by Deputy Prime Minister Chrystia Freeland, Industry Minister François-Philippe Champagne and Natural Resources Minister Jonathan Wilkinson.
In an interview earlier this month, University of British Columbia mining engineering department head W. Scott Dunbar said Canada has the natural resources to allow it to become a leader in the field, but needs strong domestic players.Teck has proposed splitting up its metals and steelmaking coal businesses into two companies, Teck Metals and Elk Valley Resources.
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