Anglo American and Teck Shareholders Approve Merger, Creating Anglo Teck

Anglo American (LON: AAL) and Teck Resources Limited have received shareholder approval for their proposed merger of equals, paving the way for the creation of Anglo Teck, a new global critical minerals powerhouse.

Anglo American shareholders overwhelmingly supported the merger, with 99.17% voting in favor of the resolution to allot new shares and 99.98% approving the change of company name to Anglo Teck. Teck shareholders also greenlit the deal at their special meeting held the same day.

Duncan Wanblad, CEO of Anglo American, stated that the company is, “extremely pleased to have received such strong support both from shareholders and stakeholders alike. Today marks a major milestone towards forming Anglo Teck – a global critical minerals champion, headquartered in Canada, and a top five global copper producer.”

The combined entity will be headquartered in Canada and is projected to become a top-five global copper producer, offering over 70% exposure to copper. The markets are reacting positively to the announcement, anticipating significant shareholder value creation through industrial synergies and growth opportunities.

The merger is expected to generate substantial value for shareholders through a combination of industrial synergies and long-term growth prospects. Anglo Teck aims to leverage the strengths of both companies to capitalize on the increasing demand for copper and other critical minerals essential for the energy transition.

The merger remains subject to customary closing conditions, including approval under the Investment Canada Act and competition and regulatory approvals in various jurisdictions globally. Anglo American and Teck will continue to work closely with regulatory authorities to secure the necessary approvals in 2026.

Wanblad further added that the new company hopes to achieve this by, “bringing together the best of both companies, Anglo Teck is set up to deliver outstanding value for shareholders of both companies – in the near term through a unique combination of industrial and other synergies, and in the longer term by applying proven capabilities to exceptional growth optionality.”

The formation of Anglo Teck represents a significant development in the global mining industry. The combined entity's focus on copper and critical minerals positions it well to benefit from the long-term trends driving demand for these resources. Investors should monitor regulatory approvals and integration progress as the merger moves forward.