By Jamie Hyland – MiningIR
VANCOUVER BC – Anglo American and Teck Resources today announced a landmark all-share merger valued at US$53 billion, forging a new global copper powerhouse named Anglo Teck. Under the all-share agreement, Anglo American shareholders will own approximately 62.4 % of the new company, with Teck shareholders holding 37.6 %. The entity will be headquartered in Vancouver, Canada—while maintaining its primary listing on the London Stock Exchange and leveraging secondary listings across key markets. Duncan Wanblad (CEO of Anglo American) will lead Anglo Teck as Chief Executive, with Teck CEO Jonathan Price serving as Deputy CEO. Governance will be balanced, with the board equally split between former Anglo and Teck directors.
Duncan Wanblad, Chief Executive Officer of Anglo American, stated: “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 characterised both companies for so long… Together, we are propelling Anglo Teck to the forefront of our industry in terms of value accretive growth in responsibly produced critical minerals.”
The merger spans one of the sector’s most transformative alignments in recent years, aimed squarely at capitalizing on soaring copper demand fueled by the energy transition—particularly in EVs, AI infrastructure, and renewable technologies. Combined, the company is expected to deliver over 70 % exposure to copper and become a top‑five global producer.
Jonathan Price, Chief Executive Officer of Teck, added: “This merger of two highly complementary portfolios will create a leading global critical minerals champion headquartered in Canada… 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.”
The merger is projected to deliver exceptional financial benefits, anchored by US$800 million in recurring pre-tax annual synergies and a substantial US$1.4 billion average annual EBITDA uplift from 2030 through 2049, driven by integrating the adjacent Collahuasi and Quebrada Blanca operations. This integration alone could unlock approximately 175,000 tonnes of additional copper production per year, significantly strengthening Anglo Teck’s supply base. With more than 70% copper exposure, bolstered by premium iron ore and zinc assets, the combined entity will operate from a strong, diversified balance sheet and an expanded global capital markets footprint—including listings in London, Johannesburg, Toronto, and New York. Ahead of completion, Anglo American shareholders will also receive a special dividend of US$4.5 billion, or roughly US$4.19 per share, underscoring the near-term value creation embedded in the transaction.
London markets responded positively, with both companies’ shares rallying notably. The transaction is structured for completion in 12–18 months, contingent on shareholder and regulatory approval. The Anglo Teck merger is more than a financial transaction—it is a strategic response to the global copper crunch, creating a new powerhouse capable of shaping supply, pricing, and innovation in one of the world’s most vital commodities.
The Anglo Teck merger is more than a financial transaction—it is a strategic response to the global copper crunch, creating a new powerhouse capable of shaping supply, pricing, and innovation in one of the world’s most vital commodities.
