Anglo American to Merge with Teck in $53bn Mining Deal

Published: 09 September 2025. The English Chronicle Online

London-listed miner Anglo American has announced a merger with Canadian rival Teck Resources, creating a $53 billion (£39 billion) global copper group and marking one of the largest mining tie-ups in recent years. The deal, unveiled on Monday, will form one of the world’s leading copper producers, though it raises the possibility of job reductions as the companies streamline operations.

Anglo American, which fended off takeover attempts by BHP last year, has undergone a significant restructuring of its business portfolio. CEO Duncan Wanblad described the merger as creating “a global critical minerals champion with the focus, agility, capabilities and culture that have characterised both companies for so long.” He added that the timing was optimal to accelerate growth following Anglo’s portfolio transformation.

Teck’s CEO Jonathan Price will assume the role of deputy chief executive in the merged company. Both executives, along with other senior leadership, will be based in Canada, with the global headquarters located in Vancouver. Despite this, Anglo American will maintain its primary share listing on the London Stock Exchange and continue to operate corporate offices in London and Johannesburg. The new entity will also be listed on exchanges in Toronto, New York, and Johannesburg.

The merger, expected to be completed within 12 to 18 months pending regulatory approval, aims to deliver $800 million in annual cost savings within four years. Approximately $60 million of these savings are expected from board and head office efficiencies, suggesting potential reductions in senior roles. An additional $150 million in savings is anticipated from overlapping corporate and business functions between Anglo and Teck.

Anglo American has recently focused on streamlining its portfolio, spinning off its platinum mining operations and exploring the sale of its De Beers diamond business. Under the terms of the deal, Anglo American shareholders will own 62.4% of the new business, with Teck shareholders holding 37.6%. Before completion, Anglo plans to pay a special dividend of $4.5 billion, equivalent to $4.19 per share.

Following the announcement, Anglo American shares rose 5% in London trading, while Teck’s Frankfurt-listed stock surged nearly 22%, reflecting investor optimism over the strategic merger. Analysts note that the combined company’s enhanced scale and focus on copper could strengthen its position in the global critical minerals market while also driving operational efficiencies.