Market-Place-4.0 Glencore plc

12.06.2023

Glencore confirms alternative proposal to acquire Teck’s steelmaking coal business

Glencore plc confirms that it submitted a proposal to the Board of Directors of Teck Resources Limited in which it offered to acquire Teck’s steelmaking coal business for cash.

While Glencore remains willing to pursue its Proposed Merger Demerger, Glencore has made this alternative proposal to acquire EVR as it is expected to allow for a value accretive demerger of the combined coal and carbon steel materials business to its shareholders. We also note continued strong support from shareholders for a transaction between Glencore and Teck.

If a transaction were to materialise, Glencore would demerge CoalCo, once Glencore has sufficiently delevered, which is expected approximately 12-24 months from close. Glencore would manage its post-demerger balance sheet, post servicing its formulaic base distribution, to a revised c.US$5 billion net debt cap, down from the current level of c.US$10 billion, alongside our continued commitment to minimum strong BBB/Baa ratings.

Glencore is fully committed to ensuring that the Proposed EVR Acquisition would benefit Canada and is open to working with Teck to identify a comprehensive suite of commitments for the benefit of all relevant stakeholders which would, amongst others, maintain and, where feasible, enhance EVR’s existing presence and capital investments in Canada as well as its community, social, labour and environmental programmes.

Source: Glencore

#hard coal #hard coal mining #steel industry #mergers and acquisitions #stock market #restructuring #Canada (CA) #Glencore plc #Mining

                     

10.06.2023

Skanska builds highway in Oslo, Norway

Skanska has signed a contract with the Norwegian Road Authority (NPRA) to build the new E18 highway between Fornebukrysset and Strand outside Oslo, Norway. The contract is worth NOK 4.6 billion, about SEK 4.6 billion, which will be included in the Nordic order bookings for the second quarter 2023.  

09.06.2023

Codelco and BHP sign unprecedented innovation agreement for the development of sustainable mining

Two of the largest mining companies in the world join forces with the objective of exchanging information in areas of mutual interest, such as the electrification of mining activities, the supply of desalinated water, the stability and monitoring of tailings deposits, and the development of technologies for the decarbonisation of processes, among others.  

08.06.2023

Environmentally Friendly Bulk Material Handling using Air supported Belt Conveyors

With the acquisition of one of the leading companies for air supported belt conveyors, The Hendrik Group Inc., the Beumer Group is expanding its portfolio in the field of bulk material transport. In particular, the handling of alternative fuels and raw materials (AFR) confirms Beumer's commitment towards sustainability and is at the same time fully complementary to the current technologies offering ensuring an even broader customer benefit. The technology also generates additional potential in the field of bulk material handling of sensitive materials when it comes to preventing hazardous substances from being released into the environment.  

07.06.2023

Amberg Technologies announces Software Releases

Amberg Technologies announces software releases:

• Amberg Tunnel - Version 2.24
• Amberg Navigator - Version 1.24