Glencore Plc, the Swiss multinational commodity trading and mining giant led by South African executive Gary Nagle, has received the final regulatory approval required for the acquisition of a 77 percent stake in Elk Valley Resources EVR from Teck Resources.
Valued at 6.9 billion, this acquisition aligns with Glencore's strategic focus on critical minerals essential for the global energy transition and infrastructure development.
Glencore's acquisition of a 77 percent stake in Elk Valley Resources, approved under the Investment Canada Act, significantly strengthens its portfolio and position as a leading global miner of critical minerals.
EVR's high-quality steelmaking coal assets in British Columbia will enhance Glencore's supply capabilities as one of the largest diversified miners and suppliers of critical minerals in Canada.
