Teck aiming for coal, metals business separation announcement by end of 2023

Price, who was speaking at the FT Mining summit in London, said that the company is advancing a range of proposals with a range of counterparties.

“I do believe we are coming close to a point where we are going to be able to make a decision on what is the value maximizing route for shareholders and I would like to see that announced before the end of this year,” he said.

Teck has been weighing a sale of its coal business as part of a comprehensive business review, which was sparked by a takeover bid by Glencore earlier this year. Among suitors for a stake in Teck’s coal unit is India’s JSW Steel Ltd, Reuters has reported.

Price, without detailing specifics of a potential deal, said a recent diplomatic row between India and Canada was not slowing the process.

“I would say on Canada and India, separately from the sale process, we want to see a continuation of trade between,” he said.

Ties between India and Canada deteriorated sharply after Canadian Prime Minister Justin Trudeau said New Delhi may have had a hand in the murder of a Sikh separatist advocate in British Columbia. India denies the allegation vociferously.