Teck Resources Ltd. withdraws separation proposal

A key shareholder vote on the separation of Canada’s largest diversified mining company is no longer moving ahead. The vote was to determine whether Teck Resources Ltd. – which has a significant mining footprint in southeast B.C. near the Alberta border – would reorganize into two companies. It comes as Teck faces an unsolicited takeover offer from a foreign commodities trader. As Erik Bay reports, Teck says it will be taking a more direct approach to separation.