![]() Client Work Nippon Steel Commits to $1.15 Billion Investment in Elk Valley Resources in Teck Spin OffFebruary 22, 2023 Authors Christopher R. SkeltonPartner Jon C. TruswellPartner Greg M. JohnsonPartner Marshall R. HaugheyPartner Tim MyersPartner Thomas MachellAssociate Zirjan (Zee) J. DerwaPartner Kolding LarsonAssociate J. Sébastien A. GittensPartner, Trademark Agent Andrew N. DisipioPartner Simon FoxcroftPartner Susan G. SellerPartner Bennett Jones is representing Nippon Steel Corporation in its proposed $1.15 billion investment in Elk Valley Resources Ltd. (EVR), a steelmaking coal business to be spun-out as an independent public company from Teck Resources Ltd. Nippon Steel and EVR have agreed that concurrently with the completion of the investment, they will enter into long-term coal offtake rights agreement, under which EVR will supply steelmaking coal to Nippon Steel. The $1.15 billion investment will:
More details are available in Nippon Steel's press release and in Teck's release. The Bennett Jones team is led by Chris Skelton (Commercial, M&A) and includes Jon Truswell and Duncan D'Arcy (M&A, Public Markets), Greg Johnson and Marshall Haughey (Tax), Tim Myers and Thomas Machell (Regulatory), Zee Derwa and Kolding Larson (Competition), Kieran Brennan (Commercial, M&A), Sébastien Gittens (Intellectual Property), Andrew Disipio (Mining), Simon Foxcroft and Stirling Wood (Corporate), and Susan Seller (Pensions and Benefits). Republishing Requests For permission to republish this or any other publication, contact Amrita Kochhar at kochhara@bennettjones.com. For informational purposes only This publication provides an overview of legal trends and updates for informational purposes only. For personalized legal advice, please contact the authors. AuthorsChristopher R. Skelton, Partner Calgary • 403.298.3309 • skeltonc@bennettjones.com Jon C. Truswell, Partner Calgary • 403.298.3097 • truswellj@bennettjones.com Greg M. Johnson, Partner Calgary • 403.298.4470 • johnson@bennettjones.com Marshall R. Haughey, Partner Calgary, Edmonton • 403.298.3461 • haugheym@bennettjones.com Tim Myers, Partner Calgary • 403.298.3671 • myerst@bennettjones.com Thomas Machell, Associate Calgary • 403.298.3445 • machellt@bennettjones.com Zirjan (Zee) J. Derwa, Partner Toronto • 416.777.6442 • derwaz@bennettjones.com Kolding Larson, Associate Toronto • 416.777.7829 • larsonk@bennettjones.com J. Sébastien A. Gittens, Partner, Trademark Agent Calgary • 403.298.3409 • gittenss@bennettjones.com Andrew N. Disipio, Partner • Head of Mining Industry Team Toronto • 416.777.5034 • disipioa@bennettjones.com Simon Foxcroft, Partner • Co-Head of Corporate Department Edmonton • 780.945.4756 • foxcrofts@bennettjones.com Susan G. Seller, Partner Toronto • 416.777.5638 • sellersg@bennettjones.com |