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Glencore’s prized Canadian coal mines come with rising environmental scrutiny – Reuters

December 14, 2023

Dec 14 (Reuters) – A Glencore-led (GLEN.L) consortium’s successful $9 billion bid for Teck Resources’ (TECKb.TO) steelmaking coal unit could face tougher environmental clean-up obligations, as water pollution from the mines comes under increasing scrutiny in the U.S. and Canada.

Canada’s Environment Minister Steven Guilbeault told Reuters that Ottawa and Washington are close to requesting a study of selenium contamination from Teck’s Elk Valley mines in southeast British Columbia.

The research would be carried out by International Joint Commission (IJC), a bi-national organization set up under the 1909 Boundary Waters Treaty between the U.S. and Canada to prevent and resolve disputes over shared waters.

An IJC request would likely mean the consortium could eventually face stronger regulations and need to put aside more cash to cover future reclamation liabilities, environmental lawyers said.

Read More: https://www.reuters.com/markets/commodities/glencores-prized-canadian-coal-mines-come-with-rising-environmental-scrutiny-2023-12-14/

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