Teck Resources Limited has strategically transformed itself into a pure-play energy transition metals company by divesting its steelmaking coal assets, focusing on copper and zinc for future growth.

Target Company Overview

Teck Resources Limited, headquartered in Vancouver, Canada, is a prominent resource company focused on essential metals required for economic development and energy transition. In 2024, Teck underwent a significant transformation to position itself as a pure-play energy transition metals company, with an emphasis on copper and zinc. The year witnessed a strategic divestiture of its steelmaking coal business with a sale of 23% to Nippon Steel Corporation and POSCO, and the remaining 77% to Glencore, for a total of approximately US$8.6 billion.

This transformation aligns with Teck’s long-term strategy to focus on sustainable growth within the copper market, having a projected pathway to increase production to around 800,000 tonnes annually by the end of the decade.

Industry Overview in Canada

The metals and mining industry in Canada is characterized by its significant contributions to the national economy. Canada has abundant natural resources, including some of the world’s most advanced mineral production