Despite recording a significant rise in carbon emissions, investors are urgingGlencore(OTCPK: GLCNF) to persist with coal production, citing financial viability and environmental considerations. The push comes amid a plan to acquire a large portion ofTeck Resources(NYSE:TECK), a Canadian miner with significant ecological problems.
The acquisition, valued at $6.9 billion, will see Glencore bolster its coal capacity, adding 20 million tons of steelmaking coal annually. Analysts project that this strategic move could generate between $5 billion to $6 billion in free cash flow, highlighting the financial appeal of maintaining coal operations.
However, the surge in emissions, up by 8.8% in 2023 primarily...
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