Anglo is interested in Teck's base metals business, but no deal has been finalized yet.
Key Highlights :
Teck Resources Ltd. (TSX:TECK) has been approached by Vale SA, Anglo American Plc and Freeport-McMoRan among others to explore deals for its base metals business, according to people familiar with the matter.
The talks come as Teck weighs an offer from China's Sinopec for its aluminum business, which is seen as a key part of the company's strategy to reduce its exposure to the resource sector.
The company's base metals business produces copper, nickel, lead and zinc.
Teck is in the process of reviewing the offers and has not made a decision, the people said.
A spokeswoman for Teck declined to comment.
The company has been approached about a sale of its base metals business before, but has not decided whether to sell, the people said.
Teck is one of the largest base metals producers in the world. The business is worth about C$5.5 billion, according to one of the people.
The company is also looking at ways to reduce its exposure to the resource sector, which has been a drag on its stock price.
Teck is considering selling its aluminum business, which is worth about C$3.5 billion, according to one of the people.
The company is also in talks to sell its coal and iron ore businesses, the people said.
Teck's shares have fallen about 30 per cent since the start of the year as the company's exposure to the resource sector has weighed on its stock.
The company's shares were down 1.5 per cent at C$21.49 on the Toronto Stock Exchange on Wednesday.
Vale SA, Anglo American Plc and Freeport-McMoRan did not respond to requests for comment.
Teck Resources has been approached by Vale SA, Anglo American Plc and Freeport-McMoRan among others to explore deals for its base metals business.