Teck Resources and Anglo American have announced a merger of equals to form Anglo Teck, a leading global critical minerals company aimed at enhancing operational efficiencies and shareholder value.

Overview of the Target

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) has announced its merger with Anglo American plc, creating a new entity named Anglo Teck, which is poised to become a leader in the global critical minerals market and a top five copper producer worldwide. The merger aims to combine the strengths of both companies, with a focus on enhancing operational efficiencies and unlocking substantial value for shareholders, particularly through the alignment of significant assets such as Quebrada Blanca and Collahuasi.

The merger agreement, announced on September 9, 2025, is viewed as a strategic step to enhance portfolio quality, financial resilience, and operational robustness for stakeholders of both companies. With anticipated annual pre-tax synergies of approximately US$800 million, Anglo Teck is positioned to significantly elevate its market presence and operational efficiency.

Industry Overview in Canada

The critical minerals industry in Canada has been gaining momentum as global demand for essential metals such as copper and zinc continues to rise. Notably, Canada is rich in mineral resources and has a relatively stable political environment, which makes