Conservative MPs are speaking out against an attempted hostile takeover of Teck by the Switzerland-based Glencore.
“It comes down to the bottom line that we talk about as Conservatives: and that’s to bring it home, keep our jobs in Canada and support our miners,” said Kootenay-Columbia MP Rob Morrison.
“All B.C. communities have an interest in mining, we are a mining province. It’s really important for us to focus on that.”
Rick Perkins, shadow minister for Innovation, Science and Industry, said Conservatives feel the federal government has not taken a strong enough opposition to Glencore’s takeover attempts.
“Conservatives oppose Glencore’s attempt to acquire Teck Resources and call on the Liberals to ensure the proposal is rejected,” said Perkins.
Perkins said the federal government has the power to step in and make sure the deal does not go through.
“Any takeover of a Canadian company valued at $1.3 billion or more is required under the Investment Canada Act to be reviewed if it’s being acquired by a foreign entity,” said Perkins.
Elkford Mayor Steve Fairbairn said having a Canadian mining company in control of the Elk Valley’s mineral extraction will ensure the interests stay within the country’s borders.
“Glencore has the record on bribery and environmental issues. It’s not a record to be proud of,” said Fairbairn. “Teck, on the other hand, is working with upwards of 10 years of brand-new science.“
“This is an issue of Canadian sovereignty, it’s an issue of economic stability in the southeast corner of B.C. and the southwest corner of Alberta, and it’s an issue of environmental stewardship over our own backyard,” said Fairbairn.
Teck has received two hostile takeover bids from Glencore, both of which have been denied.
That said, the company seems to be continuing its attempt to buy out Teck.
More: Glencore says Teck takeover offer still stands (Apr 27, 2023)