Unlocking Value. Creating New Benefits for Canada and B.C. Creating a Sustainable Future.

Creating Significant New Benefits for Canada, British Columbia and the Elk Valley

Teck has reached an agreement to sell our entire interest in the steelmaking coal business, unlocking significant value for our stakeholders, and creating a new Canadian-based company, Elk Valley Resources (EVR), to be majority-owned by Glencore.  

This transaction will be a catalyst for Teck’s continued growth as a Canadian-based, growth-focused critical minerals champion, while ensuring continued socially and environmentally responsible steelmaking coal operations and enhanced benefits for Canada, British Columbia, and the employees, communities, and Indigenous Peoples of the Elk Valley. 


For more information read our news release/

Benefits to Canada

As a pure-play base metals company, Teck expects to drive new economic opportunities and job creation as it increases production across the base metals portfolio, including the HVC 2040 project to extend the life of Highland Valley Copper, Canada’s largest copper mine, and the Galore Creek project in B.C. Teck is also evaluating an expansion of Trail Operations to include an electric vehicle battery recycling facility. 

Teck will continue to support junior Canadian mining and exploration companies, invest in research and innovation related to mining and processing, and help advance the Canadian Critical Minerals Strategy along with Canada’s decarbonization and nature conservation goals. 

Elk Valley Resources to Provide Enhanced Benefits for Stakeholders

To support enhanced benefits to the Elk Valley, B.C. and Canada, Glencore has made commitments that will ensure, among other things, that:  

  • EVR will continue to operate in Canada through both a Vancouver head office and regional offices in Calgary, Alberta, and Sparwood, British Columbia, including, completing the construction of a new Sparwood office. 
  • EVR will maintain significant employment levels in Canada with no net reduction in the number of employees in the business in Canada as a result of the transaction.   
  • EVR will increase its contributions to Canadian sponsorship, community and charitable programs. 
  • EVR will participate as a major funding partner up to $15 million for the proposed renal/oncology addition to the East Kootenay Regional Hospital in Cranbrook. 
  •  EVR will increase capital expenditures in Canada such that they will amount to over $2 billion (excluding deferred stripping) over three years.

  • EVR will increase research and development activities in Canada to at least $150 million over three years, including on innovation in relation to water quality treatment technologies – a 50% increase over current levels. 

  • EVR will have a goal to become a nature positive business by conserving or rehabilitating at least three hectares for every one hectare affected by its mining activities going forward.

  • EVR will develop and implement a climate transition strategy which will include medium term scope 1 and 2 emissions reduction targets, a long-term goal of net zero in respect of scope 1 and 2 emissions by 2050 as well as a commitment to work with partners towards an ambition to achieve net-zero Scope 3 emissions by 2050. 

Creating a Canadian-based, global critical minerals champion

Teck President and CEO Jonathan Price on creating a critical minerals champion and enhancing benefits for Canadians. 

Investor Contact

Fraser Phillips
Senior Vice President, Investor Relations and Strategic Analysis

Media Contact

Dale Steeves
Director, Stakeholder Relations