Canadian Government Greenlights Teck–Anglo American Merger

Teck Resources' Highland Valley Copper Mine is seen near Logan Lake, B.C., on Sept. 11, 2025. The Canadian Press/Darryl Dyck

Ottawa has given its stamp of approval this week to a merger between Canadian natural resources company Teck Resources Ltd. and Britain’s Anglo American PLC.

The two companies announced their plans to merge in September to create Anglo Teck, a $70 billion copper mining powerhouse, but needed shareholder and government approvals to move ahead.

The plan received shareholder approval last week and the companies were granted regulatory clearance by the Canadian government under the Investment Canada Act on Dec. 15, putting the companies one step closer to making the consolidation a reality.

Industry Minister Mélanie Joly said in a Dec. 15 media statement the merger will provide a net benefit to Canada and labelled it a “significant win.”

As stipulated by the approval, the headquarters will be located in Vancouver, along with the majority of the company’s executives and board members.

Joly says the companies have committed to the creation of approximately 4,000 jobs in Canada and an investment of $4.5 billion in the country over a five-year period.

“It is an unequivocal endorsement of the federal government’s efforts to build the strongest economy in the G7,” Joly said in the statement. “Anglo Teck, with its global headquarters in Vancouver, will be a truly Canadian champion on the world stage.”

B.C. Premier David Eby also weighed in on the merger calling it “great news” for the province.

“New mining giant Anglo Teck will be the largest company in our province’s history,” Eby said in a Dec. 15 social media post. “They’ll help unlock prosperity in the Northwest and deliver good jobs and benefits across the province. Welcome Anglo Teck!”

Teck and Anglo American issued separate statements announcing the approval, describing the agreement as a “merger of equals,” despite the fact that Anglo American’s valuation is more than double that of Teck.

Teck’s media release says the merger’s completion is contingent upon obtaining the necessary regulatory approvals across different jurisdictions globally. Aside from Canada’s approval, Australia has also given the merger the green light, the press release says, adding that other reviews are progressing.

The acquisition of Teck by Anglo requires regulatory approval from authorities in the United States, Europe, Chile, Japan, South Korea, and China due to antitrust issues.

The examination centres on the influence that Anglo Teck could exert on the worldwide copper industry and the risk of too much power being consolidated in one organization. Anglo Teck would hold nearly 5 percent of the copper market.

Teck Chair Emeritus Dr. Norman B. Keevil described the merger as the next step in the Canadian mining company’s journey.

“This agreed merger will begin a powerful next chapter, bringing together two respected, 100-year-old companies into a single world-class mining one, headquartered here in Canada,” he said in a statement. “With substantial operating synergies, production and growth opportunities in copper and other critical metals around the world, the merger will be a strong step forward for each of Anglo and Teck.”

Teck is one of the largest and oldest mining enterprises in Canada, beginning in 1913 when Norman Keevil, father of Teck’s current chair emeritus, formed the Teck-Hughes Gold Mining Company in Kirkland Lake, Ont.

The company now has domestic and international operations in copper, zinc, lead, and germanium and operates the Highland Valley copper mine and the trail smelter in British Columbia.

The Canadian Press contributed to this report.