By Canadian Press

Teck Resources announces new business structure after exiting coal

Aug 30, 2024 | 3:07 PM

VANCOUVER — Teck Resources Ltd. says it’s taking on a new business structure as it shifts to a pure-play energy transition metals company.

The company says it now has two regional business units, one for North America and one for Latin America.

President and CEO Jonathan Price says the change simplifies Teck’s business with a streamlined leadership team, and regional structure, supporting the company’s strategy focused on growth in copper.

The company also reshuffled its executive leadership team reporting to Price beginning in September.

Earlier this summer, Teck successfully closed the sale of its remaining 77 per cent interest in its steelmaking coal business, Elk Valley Resources, to Swiss commodities giant Glencore.

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The company is looking to focus on metals considered key to the global energy transition, such as copper.

This report by The Canadian Press was first published Aug. 30, 2024.

Companies in this story: (TSX:TECK.B)

The Canadian Press