The mayors of Elkford and Sparwood are both optimistic about Glencore’s purchase of Teck’s coal mines in the Elk Valley.
The $9 billion (USD) deal comes after Teck has been divesting from its coal division.
Sparwood Mayor David Wilks said he feels better about the deal than he did previously.
“We’ve gone through many changes in ownership of the mines over many years,” said Wilks. “From the initial stuff I’ve read from Glencore and what they have committed to do in the Elk Vally, I’m not as concerned as I was the first time.”
Elkford Mayor Steve Fairbairn said he feels optimistic about the deal.
“Going to a company that has been trying very hard to purchase these coal assets, I think, is probably very good for operations in the Elk Valley and pretty darn good for my residents whose livelihoods depend on those mines,” said Fairbairn.
The deal is not quite done yet, as it still needs to be reviewed by Canada’s Federal Government.
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