London–Vancouver, September 9, 2025 — In a landmark merger of equals, Anglo American and Canada’s Teck Resources have joined forces to create a new global mining powerhouse focused on copper and critical minerals. The combined entity, to be known as Anglo Teck, is valued at over US$50 billion and is expected to reshape the landscape of the mining sector.
A Strategic Union in Minerals
Under the agreement, Anglo American shareholders will control 62.4 percent of the new company, with Teck shareholders holding the remaining 37.6 percent. While Anglo Teck will be headquartered in Vancouver, the company will retain its primary listing in London, along with secondary listings in Johannesburg, Toronto, and New York.
Delivering Synergies and Scale
The merger is projected to generate about US$800 million in annual cost savings by its fourth year. These will be driven by consolidating overlapping operations, streamlining head-office functions, and optimizing adjacent mine sites—particularly copper assets in Chile where both companies operate. Estimated additional EBITDA synergies of up to US$1.4 billion are anticipated by integrating operations in Quebrada Blanca and Collahuasi.
Leadership and Structure
Anglo’s current CEO, Duncan Wanblad, will lead the merged group, while Teck’s CEO, Jonathan Price, will become deputy CEO. The executive leadership—including the CFO—will be based primarily in Canada, with strong representation from the UK and South Africa. A balanced board will be drawn equally from both companies, with Sheila Murray appointed as chair.
A special dividend of approximately US$4.5 billion will be paid to Anglo American shareholders before the merger closes, giving immediate value while aligning long-term ownership stakes.
Timing and Approvals
Subject to regulatory and shareholder approval—which could take 12 to 18 months—the merger stands as the largest in the mining sector in over a decade. The new company is poised to become one of the top five copper producers globally, riding a wave of increasing demand driven by electric vehicles, renewable energy, and AI-driven infrastructure expansion.
Market Reaction and Strategic Implications
The announcement triggered strong positive reactions from investors. Shares of both companies surged—Anglo’s rising over 7 percent and Teck’s around 22 percent—reflecting confidence in the deal’s long-term merit.
Analysts describe the merger as a strategic masterstroke: Anglo American, once a target of takeover talks, has transformed into a dominant player demonstrating resilience and ambition. The newly formed Anglo Teck will emerge as a commanding force in copper and critical minerals.
Key Highlights at a Glance
| Topic | Details |
|---|---|
| Deal Value & Structure | ~$50–53 billion merger of equals; 62.4% Anglo / 37.6% Teck |
| Leadership & HQ | HQ in Vancouver; CEO Wanblad, Deputy CEO Price; chair Sheila Murray |
| Shareholder Benefit | ~US$4.5 billion special dividend to Anglo investors pre-merger |
| Synergies | ~US$800 million annual cost savings; up to US$1.4 billion from mine integration |
| Production Outlook | One of the top-five copper producers; combined asset-rich portfolio |
| Market Response | Shares rose significantly post-announcement; positive investor sentiment |
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