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1) Teck Resources has confirmed that it is thinking about spinning off its steelmaking coal business, as the company pursues the demand and growth in the metals needed for the transition to green energy. Teck said that no decision has been made and that there could be no assurances that any transaction would eventuate. The statement came from the company after an earlier report from Bloomberg saying that an announcement about the coal operations could be made as early as next week. The NYSE and the Investment Regulatory Organization of Canada requested that Teck Resources make an official statement. Earlier in the year Teck exited the oil sand business with Jonathan Price, the CEO of Teck, saying it was in line with the company's strategy as it pursues low carbon metals. Mr. Price said that the company will aim to be a more significant player in the copper industry. This is a major move that many companies are looking at, such as Glencore and Vale, to separate their businesses into two different units.
2) Newcrest has rejected the takeover bid by Newmont as the interim CEO, Sherry Duhe saying that the company is "worth a lot more" than the opening bid. “We had not put the company up for sale and this offer was unsolicited,” Duhe told Bloomberg Television. “We have offered Newmont limited conversations to share a bit more about where we see value in the portfolio, and so obviously that’s with them now to see if they’d like to decide to engage." Ms. Duhe said that conversations are on-going and the board will see "where they go."
3) The Democratic Republic of Congo demanded an additional $17 billion of investments from China from a 2008 infrastructure-for-minerals deal that is currently being renegotiated. The China embassy in Congo said that it was shocked by the Congo's state auditor's report. The previous Congolese government made a deal where Sinohydro Corp and China Railway Group Limited agreed to build roads and hospitals in exchange for a 68% stake in Sicomines, a cobalt and copper joint venture with Congo's state mining company Gecamines. Under this deal, the Chinese investors committed to spending $3 billion on infrastructure projects, which the new demand by the state auditor would increase the spending to $20 billion.