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Bloomberg reported that Teck Resources Ltd is likely going to lead a bid for Canada’s Iron Ore Co. as Rio Tinto plans to sell all or part of its 59% stake on the company.
Bloomberg reported that Teck Resources Ltd is likely going to lead a bid for Canada’s Iron Ore Co. as Rio Tinto plans to sell all or part of its 59% stake on the company.
As quoted in the market news:
Iron Ore Co. is a perfect target for Teck because it exports to Asia, would strengthen Teck’s ties with existing steelmaking customers and help lessen its reliance on coal and copper, said Laurence Balter, chief market strategist at Oracle Investment Research in Fox Island, Washington.
