Tag: elk valley resources

JSW Steel is looking to form a consortium to bid for a majority stake in Teck Resources's steelmaking coal business, people with knowledge of the matter said, potentially rivalling an $8-billion offer from commodities giant Glencore. Mumbai-based JSW is seeking partners for an offer to acquire a 75% interest in the asset, known as Elk Valley Resources, the people said. That is a marked shift in its approach from July, when Bloomberg reported JSW was interested in up to 20% of Teck's coal business.The deal could value the...