Teck concluded this week the sale of its steelmaking coal unit to Glencore, in a deal worth about $6.9 billion. The Vancouver-based miner is now focused on copper and zinc and has no exposure to the fossil fuel.
Rio’s move comes on the heels of a $49 billion failed attempt by BHP (ASX, NYSE, LON: BHP) to acquire Anglo American (LON: AAL) and may be one of many mergers and acquisitions to come in the mining industry in the short to medium term, according to industry experts.
Large-scale deals involving the world’s top miners are expected to face increased regulatory scrutiny, especially as western governments ramp up their attention on supply chains for critical minerals. Canada is one of them, announcing in early July it would only greenlight foreign takeovers of its major mining companies in “in the most exceptional of circumstances.”
Rio Tinto and Teck Resources didn’t immediately respond to MINING.COM’s requests…
