Canada Approves $53 Billion Anglo American–Teck Merger, Paving Way for Global Copper Giant

The federal review was completed in just over three months, significantly faster than several recent mining transactions.

SEATTLE (Scrap Monster): Canada has given final approval to the $53 billion merger between Anglo American and Teck Resources, clearing the path for the creation of one of the world’s largest copper producers as global demand for the metal continues to rise.

While Industry Minister Mélanie Joly approved the transaction on national security grounds in November, the deal still required confirmation that it would deliver a net economic benefit to Canada under stricter foreign takeover rules.

That review led to binding commitments from Anglo American, including relocating its global headquarters to Vancouver from London and investing C$4.5 billion over five years, rising to at least C$10 billion over 15 years. Additional pledges include C$100 million toward critical minerals research and mining skills development.

The federal review was completed in just over three months, significantly faster than several recent mining transactions. Anglo American CEO Duncan Wanblad said the approval strengthens the group’s ambition to build a global critical minerals leader, while Teck CEO Jonathan Price highlighted the deal’s potential to unlock major investment and economic growth.

YOU MAY ALSO BE INTERESTED IN:

Anglo American and Teck Shareholders Approve $53B Merger to Form Copper Giant

Anglo American and Codelco to Implement Joint Mine Plan for Chilean Copper Mines

• EU Steel Demand to Recover in 2026 as CBAM and Trade Curbs Lift Prices
• EGA Seeks Equity Partners for Oklahoma Aluminum Smelter Project
• Nippon Steel’s U.S. investments ‘at a crossroads’
• AKFA Aluminum Solutions Opens First U.S. Manufacturing Plant in Kentucky