Wednesday, December 6, 2023

Conservatives Call for Glencore Takeover of Teck to be Blocked

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The Liberals have failed to comprehend the significance of retaining productive Canadian jobs in Canada after eight years under Justin Trudeau. The proposed hostile takeover of Teck Resources by Glencore, which would cost $23 billion (USD), would be devastating for communities like Sparwood and Elkford in British Columbia as well as for Canadians all over the country. Teck’s commitment to producing environmentally responsible steelmaking coal and zinc would be lost, putting thousands of Canadian jobs in jeopardy, our local supply chains in jeopardy, and Assuming that Glencore’s obtaining is fruitful, Canada will lose the final significant mining organization claimed and settled in Canada, and a huge number of Canadians will be impacted.

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According to Pierre Poilievre, Leader of the Official Opposition and the Conservative Party, “a Poilievre government would bring home Canadian jobs by using the Investment Canada Act to stop this hostile foreign takeover and take into account Glencore’s previous unethical behavior.” A serious, Moderate government that is centered around making position, safeguarding our store network, and supporting naturally dependable organizations, will clarify that activities like Glencore’s are unsuitable.”

Rick Perkins, the shadow minister for innovation, science, and industry, stated, “The survival of Teck Resources as a Canadian-owned and operated business depends on the existence of thousands of Canadian jobs.” Instead of allowing an unethical company to move these jobs overseas, Conservatives will keep strong mining jobs in Canada.

Glencore has been fined for manipulative mining rehearses where they drain mining resources while staying away from natural cleanup prerequisites. Glencore was fined $350 million (USD) in 2022 by the UK for bribing African officials, and their Canadian subsidiary was fined over $20 million (USD) by the Ontario Securities Commission in 2018 for misleading investors. Likewise, Glencore performs basically no mineral investigation, making an impasse for Canada’s asset area. A Poilievre government will make certain that one of Canada’s most important industries will not be controlled by foreign companies that engage in appalling forms of corruption.

“My people group relies upon the positions and financial advantages that Teck Assets gives Kootenay-Columbia. The MP for Kootenay–Columbia, Rob Morrison, stated, “Glencore’s hostile takeover will threaten the livelihoods of thousands of my constituents and damages our reputation for responsible and sustainable resource extraction.” This forced acquisition must be stopped by the Trudeau government.

Poilievre stated, “Canada needs a government that is committed to creating and supporting Canadian jobs.” The hostile takeover attempt by Glencore will result in the exodus of tens of thousands of jobs from Canada and the threat to tens of thousands of Teck employees across British Columbia. A Poilievre government will bring strong paycheques home for working Canadians and protect Canadian jobs from hostile foreign takeovers.

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