Grabbing copper resources! Global mining giants are all eyeing Canadian mining company Teck

Recently, the world's largest mining companies have once again actively sought new big deals. Canadian company Teck Resources has become the focus of their attention. Teck is attracting attention due to its copper mining assets. The company chose to exit the coal business and recently sold its coal business to JNC Resources, focusing on other more promising mineral resources. Currently, Teck has very valuable copper mines, with its Quebrada Blanca 2 mine in Chile being one of the newest and largest copper mines in the world. Copper is crucial for the future green economy (such as electric vehicles and clean energy), so everyone is looking to secure more copper resources. Anglo American and Vale are two potential merger partners, and both companies are internally exploring the possibility of collaborating with Teck. BHP, Rio Tinto, and Freeport-McMoRan, larger mining companies, are also closely monitoring Teck. If another company takes the lead, these major companies may quickly follow suit. However, it is still uncertain whether these companies will actually propose an acquisition of Teck. Currently, Teck is still controlled by the founding family. The family successfully opposed JNC Resources' acquisition proposal last year, so whether they are willing to sell the company remains unknown. Additionally, new regulations in Canada restrict foreign companies from acquiring Canadian companies, raising doubts about the smooth completion of any deal. Although it is unclear whether Teck's management or family head Norman Keevil is interested in a transaction, some sources claim that the company has at least privately considered the benefits of merging with competitors. In the entire mining industry, many large mining companies still make money from coal and iron ore, which are highly polluting resources. Investors hope that these companies will invest more in copper, as copper is a key metal needed for future clean energy and the green economy. By selling its coal business and focusing on copper and zinc, Teck has become more attractive. On Thursday, the economic barometer "Dr. Copper" rose by $18 to $9,122 per ton, ending an eight-day decline and bidding farewell to the lowest level in over three months. Intraday, it fell below $9,000 per ton for the first time since early April. On Friday, LME copper futures fell by $11 to $9,111 per ton.