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1) Teck Resources CEO Jonathan Price dismissed Glencore CEO Gary Nagle's latest presentation and open letter to Teck "Class B" shareholders as a distraction. “Glencore admits that they are uniquely positioned to make an offer for Teck in its current form; the pending separation will correct that by opening up a wider range of opportunities for value enhancement,” said Mr. Price. Although Teck believes that the best and quickest option for them is to go ahead with the separation vote, Glencore seems to be pushing otherwise, trying to acquire the company before the vote is set to commence on April 26th. Analysts at Deutsche Bank Research said that there is pressure on the Teck board to delay the separation vote and consider alternative strategic options, including the offer from Glencore.
2) As Chile's new mining royalty bill makes its way to a vote in Congress this week, the government is confident that it can work out the differences with the country's largest mining companies. Mining Minister Marcela Hernando said, "We understand that several points of consensus have been reached," pointing that some common ground has been reached between the two parties. This comes after the government presented amendments to the bill that would lower the maximum tax burden for copper producers to 48% of operating profit, from the previously proposed 50%. "The ideal for the mining industry in Chile would be to lower it a few more points,” Jaun Carlos Guajardo, head of consulting firm Plusmining said.