The logo for Canadian mining company Teck Resources Ltd.Chris Helgren/Reuters
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Vancouver-based Teck Resources Ltd. on Tuesday said it had reached a friendly deal to be acquired by London-based Anglo American PLC in an all-stock transaction. The deal could result in one of the last remaining Canadian major critical minerals miners being swallowed up by a foreign buyer.
On Friday, Sept. 12 at 12 p.m. ET, mining reporter Niall McGee and business columnists Andrew Willis and Eric Reguly answered your questions about the deal.
With Teck potentially falling into foreign hands, Canada’s influence and power in the global critical minerals industry appear to be fading at a time when politicians of all stripes have called for this country to build up its homegrown industries to fight a vicious trade war with the U.S.
Over the past few decades, many of Canada’s biggest mining champions have been acquired by foreign buyers, including Alcan Inc., Falconbridge Ltd., Noranda Inc. and Inco Ltd.
What were the circumstances that led to the deal? How likely is it that the government will let it happen? What does this mean for Canada’s critical mineral strategy? Read the answers now.