Teck Resources Ltd. shareholders tomorrow (April 26) decide on the company’s future.

Shareholders will vote on whether they support a restructuring plan that would see the creation of separate operations on the mineral side and metallurgical coal side of the company, all amid Swiss multinational company Glencore seeking to takeover Teck in the midst of the possible corporate reorganization.

Teck April 19 issued a letter to shareholders “reaffirming the strong rationale for its pending separation and responding to Glencore’s latest attempt to frustrate value creation for Teck shareholders.”

Local political leaders have also weighed in, supporting Teck.

“The ownership of Teck’s operations in the Elk Valley is a national conversation this week as shareholders prepare to cast votes that will impact the company’s future,” said Kootenay-Columbia MP Rob Morrison today.

“I will always support the working women and men of the Elk Valley and see Teck as having the proven capacity to deliver a stable future for mining of metallurgical coal in our area. These metallurgical coal mines should remain Canadian, and I will continue to press the government to add metallurgical coal to its list of critical minerals. I support Teck Resources and thank them for the many decades where they have done right by the mining families of Kootenay-Columbia.”

Kootenay East MLA Tom Shypitka said he hopes Teck shareholders do the company right.

“I wish them and their shareholders the best of luck in securing that support. This vote is perhaps one of the biggest in Teck’s 100 year plus history and I firmly believe keeping this great Canadian company whole in this country and around the world is critical to how we do business with our natural resource extraction. Best of luck,” he stated on social media.

The District of Sparwood has also proclaimed its support for Teck.

Teck operates four metallurgical coal mines in the Elk Valley and has offices and operations in Cranbrook and Kimberley.

e-KNOW file photo

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