The tug-of-war between Glencore and Teck

In FEBRUARY TECK RESOUrCES finally announced its slow move into the future. The Canadian miner plans to spin off its relatively dirty steelmaking-coal operations. Under the plan, Teck would focus on mining copper and zinc, while continuing to get the majority of the severed coal company’s profits. Holders of Teck’s super-voting “class A” shares would retain control over the rump firm’s strategic moves for six years. After that its…