Former Saskatchewan premier Brad Wall says he doesn’t know enough of the details to take a public stance on the merits of mining giant Glencore PLC’s ongoing hostile takeover bid for Teck Resources Ltd.
The turmoil over Teck has ignited sentiments of economic nationalism, especially from those who say homegrown mining companies will be necessary if Canada is to capitalize on expected future growth in demand for critical minerals like copper and zinc.
“You kind of have to pay attention to that movie to follow it and enjoy it, and I clearly was not thinking of anything but the call I had just had,” Wall recalled.Article content The team also gathered evidence from past takeovers, arguing that the promises foreign companies often make in these cases — such as commitments to Canadian jobs or head office locations — often don’t become reality.
“I was expecting that their answer would be ‘Yes, with conditions.’ In fact, I had written a speech for the press conference that day that anticipated that,” Wall said.Article content And BHP Billiton is building its own massive potash mine, expected to be operational in 2026, east of Saskatoon.
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