Canada approves £40bn Anglo Teck mining merger
Approval clears the way for a Vancouver-based, London-listed copper champion with multi-billion-dollar Canadian investment commitments and a global mining footprint.
Canada has cleared the £40 billion merger between Anglo American and Teck Resources, a deal that will create one of the world's largest copper producers and deepen the pair's footprint in critical minerals.
The government’s approval will allow the merged company to move forward as Anglo Teck, which will be headquartered in Vancouver but maintain a primary listing on the London Stock Exchange. Shareholders approved the merger earlier this month, marking it as the sector’s second-largest deal to date.
Anglo Teck has pledged to invest at least C$4.5 billion in Canada over the next five years and a total of at least C$10 billion over the next 15 years. The commitments are part of the structure designed to maximize domestic economic activity and job creation as the companies consolidate their resources and operations in Canada and beyond.
Jonathan Price, Teck’s chief executive who will become the second in command at Anglo Teck, said the deal will deliver billions in investment and drive new economic activity and job creation in Canada and beyond. He noted that establishing Anglo Teck in Vancouver aligns with government economic priorities and will help to elevate Canada’s role on the global critical minerals stage, benefiting communities, Indigenous peoples, employees and other stakeholders. The companies emphasized that the combination will position them at the forefront of responsible, value-added supply of copper and other minerals critical for the energy transition.
Wanblad, who will serve as chief executive of Anglo Teck, said the merger represents a significant investment in Canada, its people and its natural resources, underpinned by a comprehensive package of commitments designed to drive enduring economic and broader benefits associated with a thriving mining ecosystem in British Columbia and across Canada. He added that the leadership transition will preserve the shared heritage of both firms and strengthen the group’s global footprint, including in South Africa where Anglo Teck maintains a long-standing presence. Wanblad also indicated that the company would continue to engage meaningfully with Indigenous communities and other stakeholders as Anglo Teck moves forward. Wanblad’s remarks followed Anglo American’s decision to abandon plans to award an £8.5 million bonus to him on completion, a move that came after widespread investor concerns about executive pay.
Industry observers say the deal signals continued consolidation in the mining sector as firms seek scale to secure supply chains for critical minerals amid surging demand from manufacturing, electrification and renewable energy. The merger will also anchor Anglo Teck’s headquarters in Canada, reinforcing the country’s ambitions to become a leading global hub for critical mineral production. The deal’s Canadian commitments reflect a broader trend of government-led emphasis on mining investment, local jobs and Indigenous engagement as part of national infrastructure and clean-energy strategies.
From a market perspective, the creation of Anglo Teck is expected to influence copper supply dynamics and pricing over the coming years, given the combined group’s substantial resource base and project pipeline. The company will continue to operate across its global network, with the Vancouver base serving as a strategic center for its Canadian operations and a platform for future growth initiatives in the region.
For now, Anglo Teck is positioned to advance its integration plan while maintaining its London listing, a structure designed to balance access to global capital with governance and regional development priorities in North America. As the industry tracks how the merger unfolds, executives say the emphasis will remain on responsible mining, environmental stewardship and broad-based economic benefits for communities touched by the operation.
The deal represents a notable milestone for Canada’s resource sector, illustrating how large-scale mergers can align corporate strategy with domestic investment, Indigenous partnership, and national economic objectives. As Anglo Teck begins the integration process, analysts will watch how the companies harmonize governance, culture, and operational priorities across continents while advancing Canada’s role in the global critical minerals market.
