(Vancouver) Teck Resources said Thursday it is considering various avenues for its steelmaking coal business, including a possible spin-off to its shareholders.
The company clarified that no decision had been made regarding a transaction, and that it could not guarantee that any agreement would be reached.
Teck explained that any transaction should create value for the company’s shareholders and support ongoing benefits for communities and indigenous peoples in areas where Teck operates.
She says she made the comments at the request of the Investment Industry Regulatory Organization of Canada, after Bloomberg reported that the company planned to spin off the steelmaking coal division.
Teck has repositioned itself to focus on resources it believes will be in demand in a low-emissions world.
Last year, it sold its stake in the Fort Hills oil sands project to Suncor Energy for about $1 billion in cash.