The Elements of Innovation Discovered
The Elements of Innovation Discovered
Metal Tech News - September 10, 2025
In a landmark deal that reshapes the global mining landscape, Teck Resources Ltd. and Anglo American plc have agreed to a $53 billion merger-of-equals to form Anglo Teck, a new global critical minerals champion with copper at its core.
"We are unlocking outstanding value both in the near and longer term – forming a global critical minerals champion with the focus, agility, capabilities, and culture that have characterized both companies for so long," said Anglo American CEO Duncan Wanblad.
The resulting Canada-headquartered Anglo Teck group will have the capacity to produce 1.2 million metric tons of copper per year, making it one of the world's largest producers of this metal critical to clean energy, modern technology, and everyday living.
"This merger of two highly complementary portfolios will create a leading global critical minerals champion headquartered in Canada – a top five global copper producer with exceptional mining and processing assets located across Canada, the United States, Latin America, and Southern Africa," said Teck Resources CEO Johnathan Price.
Anglo Teck will also be a globally significant producer of zinc and germanium due to Teck's world-class Red Dog mine in Alaska and Trail zinc refinery in British Columbia. The merged company will also have a premium iron segment that will include Anglo's high-quality assets in Brazil and South Africa.
"Bringing together our world-class copper assets, premium iron ore and zinc operations, and an outstanding pipeline of high-quality growth projects provides enormous resiliency and optionality," Price added.
Anglo American and Teck anticipate significant synergies from the integration of their neighboring Collahuasi and Quebrada Blanca copper mines in Chile.
To merge the world-class copper, iron, and zinc assets into one company, Anglo American will issue Teck shareholders 1.33 shares for each Teck share held. As a result, current Anglo American shareholders will own approximately 62.4% of the merged company, and Teck shareholders will own the 37.6% balance.
Teck's current chair, Sheila Murray, will serve as chair of Anglo Teck. The top executives of the merged company will be Wanblad as CEO, Price as deputy CEO, and John Heasley from Anglo American as CFO.
Anglo Teck will benefit from a global capital markets footprint across major centers of mining finance and technical expertise, with expected stock market listings on the London Stock Exchange, JSE exchange in South Africa, Toronto Stock Exchange in Canada, and New York Stock Exchange in the U.S.
The Anglo Teck group will be headquartered in Vancouver, British Columbia, Canada, with corporate offices in London and Johannesburg. This will enable the merged company to establish three key centers of mining finance and technical expertise that will support its growth and investment ambitions.
The offices in Canada, South Africa, and the UK will also carry forward Anglo and Teck's track records in sustainable mining, environmental stewardship, and community partnerships.
"We are all committed to preserving and building on the proud heritages of both companies, both in Canada as Anglo Teck, the combined company's natural headquarters, and in South Africa, where our commitments to investment and national priorities endure," said Wanblad.
Once merged, Anglo Teck has pledged to invest C$4.5 billion in Canada over five years, including the continued extension of the Highland Copper mine in British Columbia.
The merged company has pledged to invest C$4.5 billion ($3.3 billion) in Canada over five years. These investments will support:
• Extensions of the Highland Valley copper mine in B.C.
• Improving critical minerals processing capacity at the Trail refinery.
• Advancing potential major new copper mines in Northern B.C.
• Supporting critical minerals exploration, innovation, skills training, research, and job growth in Canada
Anglo Teck also plans to work with the Canadian government to establish a Global Institute for Critical Minerals Research and Innovation, which would be funded by Anglo Teck and hosted in Canada, with potential involvement by leading institutions in Canada, South Africa, the UK, and other countries.
"This transaction will create significant economic opportunity in Canada, while positioning Anglo Teck to deliver sustainable, long-term value for shareholders and all stakeholders," said Price.
Anglo Teck is also committed to preserving Anglo American's long and proud history of contributing to the economic growth of South Africa and supporting the country's national priorities.
This includes financial support to South Africa's Junior Mining Exploration Fund, which assists qualifying junior miners conducting prospecting work.
"Together, we are propelling Anglo Teck to the forefront of our industry in terms of value accretive growth in responsibly produced critical minerals," Wanblad said.
The Anglo-Teck merger, which has the unanimous support of both companies' boards of directors, is expected to take about 12 to 18 months to close.
With more than 18 years of covering mining, Shane is renowned for his insights and in-depth analysis of mining, mineral exploration, and technology metals.
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