Anglo American and Teck Resources Merge to Form $50 Billion Copper Giant
Anglo Teck Merger Creates Global Copper Powerhouse Valued at Over $50 Billion
British mining company Anglo American and Canadian miner Teck Resources have announced their merger to create Anglo Teck, a new global copper leader valued at more than $50 billion.
The merger, unanimously approved by both boards of directors, will give Anglo American shareholders a 62.4% stake and Teck shareholders 37.6%. The new company will be headquartered in Vancouver, with a primary listing in London and planned secondary listings in Toronto, Johannesburg, and New York.
Leadership and Operations
Duncan Wanblad, CEO of Anglo American, will lead the combined company, supported by Jonathan Price from Teck as Deputy CEO. Anglo Teck is set to become one of the world’s top five copper producers.
Financial Outlook and Strategic Goals
The merger aims to achieve:
$800 million in annual cost savings within four years
EBITDA growth of $1.4 billion per year starting in 2030
Prior to the merger’s completion—expected within 12 to 18 months, subject to regulatory and shareholder approvals—Anglo American shareholders will receive a special dividend of $4.5 billion.
This merger forms a key part of Anglo American’s strategic refocusing plan, which was initiated following the rejection of BHP’s takeover bid in 2024. The combination is expected to strengthen the companies’ global copper footprint and enhance operational efficiencies while positioning Anglo Teck as a major player in the transition to green energy technologies.
