UK-based mining giant Anglo American and Canada-based mining company Teck Resources Limited have announced that they have reached an agreement on a merger of equals to create a new global leader in critical minerals supply chains. The combined company, to be named Anglo Teck plc, will rank among the world’s top five copper producers, headquartered in Vancouver, with offices in London and Johannesburg.
Under the terms, Anglo American shareholders will hold 62.4 percent, while Teck shareholders will own 37.6 percent. Completion is expected within 12-18 months, pending regulatory and shareholder approvals.
Scale and portfolio of Anglo Teck
The new company will derive over 70 percent of revenue from copper, while retaining exposure to iron ore and zinc.
Annual copper production will reach 1.2 million mt, rising to 1.35 million mt by 2027. Anglo Teck will also produce 61 million mt of premium iron ore annually and remain a major zinc producer, anchored by Alaska’s Red Dog mine.
The merger will continue Anglo American’s portfolio simplification, including separation of De Beers and divestment of steelmaking coal and nickel assets.
Synergies and financial impact
By year four, Anglo Teck expects US$800 million in annual pre-tax synergies, with 80 percent realized by year two. The efficiencies will strengthen resilience and long-term value creation across commodity cycles.
Commitments to Canada and South Africa
As its global headquarters, Anglo Teck will invest CAD$4.5 billion over the first five years in Canada, extending mine life and supporting local economies.
In South Africa, Anglo Teck has pledged compliance with empowerment and mining license requirements, partnership with the Industrial Development Corporation on the Junior Mining Exploration Fund, and support for community and regional development across southern Africa.
Industry implications
The merger creates a diversified minerals powerhouse at the heart of global supply chains for copper, iron ore, zinc and fertilizers - commodities vital for energy transition, infrastructure and food security.