Canada Approves Glencore-Teck Deal, Implements Tougher Critical Minerals Standards

Swiss commodity trading and mining giant Glencore has received formal approval from the Canadian government for its acquisition of Teck Resources' steelmaking coal business, concluding an eight-month review period. This approval marks a significant development for Glencore, but an equally important development is the Canadian government's new policy on foreign acquisitions in the critical minerals sector.

Canadian Industry Minister François-Philippe Champagne announced that future deals of this nature will only be approved "in the most exceptional circumstances." Champagne emphasized that the stricter standards underscore the strategic importance of critical minerals to Canada and highlight the need for decisive action to protect these resources.