Canadian mining giant Teck Resources has successfully concluded its exit from coal with the conclusion on Thursday of the sale of its remaining 77% stake in its Elk Valley Resources (EVR) steelmaking coal business to commodities major Glencore. Last week, the federal government announced it had approved the sale of EVR to the Swiss-headquartered group, but imposed "strict" conditions. The transaction has bolstered Teck's financial position by $7.3-bilion, funds that will be strategically invested to expand its position in metals that are essential to global development and the energy transition. CEO Jonathan Price said last week that the funding would support Teck's ambitions to increase copper production by 30% as early as 2028. The growth trajectory is underpinned by developments such as the ramp-up of the QB mine, in Chile, which is expected to double copper production to about 600 000 t/y.