Business
Anglo American and Teck receive merger approval
Anglo American and Teck Resources have received regulatory approval from the Government of Canada under the Investment Canada Act for their merger of equals, which will form Anglo Teck, a global critical minerals champion headquartered in Canada. Binding commitments include at least C$4.5 billion in Canadian spending within five years, escalating to C$10 billion over fifteen years, encompassing projects like the Highland Valley Copper mine life extension, enhancing critical minerals processing at Trail, and advancing the Galore Creek and Schaft Creek copper projects. The merger, previously approved by shareholders, is subject to customary closing conditions and other global regulatory approvals. Disclaimer*
About this update from Anglo American Plc
[{"type":"text","content":"\n\n\n\n\n\n16 December 2025\n \n\n\n\n\nAnglo American and Teck receive Government of Canada approval for merger of equals under Investment Canada Act\n\n\n\n\n \n\n\n\n\nAnglo American plc (\"Anglo American\") and Teck Resources Limited (\"Teck\") have received regulatory approval from the Government of Canada under the Investment Canada Act (\"ICA\") for the merger of equals between Anglo American and Teck which was announced on 9 September 2025. Anglo American and Teck believe that the formation of Anglo Teck in a merger of equals will provide exceptional and enduring benefits for Canada, founded upon establishing a global critical minerals champion headquartered in Canada.\n \nAnglo American and Teck set out a number of proposed commitments in their September transaction announcements which have been further defined into a set of binding commitments under the ICA. The commitments include that Anglo Teck will spend at least C$4.5 billion in Canada within 5 years, including in connection with the Highland Valley Copper mine life extension, enhancing critical minerals processing capacity at Trail, and advancing the development of the Galore Creek and Schaft Creek copper projects in northwestern British Columbia. Such expenditures will enable Anglo Teck to spend a total of at least C$10 billion in Canada over 15 years. A summary of the agreed commitments is set out in Appendix 1.\n \nDuncan Wanblad, CEO of Anglo American, said: \"We are delighted to receive regulatory approval from the Government of Canada for our merger of equals with Teck. Today's confirmation by Minister of Industry, the Honourable Mélanie Joly, marks yet another step towards forming a major global critical minerals powerhouse, following the overwhelming endorsement of both our and Teck's shareholders last week. Anglo Teck 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 wider benefits associated with a thriving mining ecosystem in British Columbia, and in Canada as a whole.\n \n\"We are all committed to preserving and building on the proud heritage of both companies, in Canada, as home to Anglo Teck's global headquarters, in South Africa where our commitment to investment and national priorities endures, ...