Copper Empire in the Making: Anglo American and Teck Resources Merge

A new mining giant emerges as Teck Resources and Anglo American merge to create the world’s fourth-largest copper producer.

Editorial Team (ET)September 10, 2025

In a move set to reshape the global mining landscape, Vancouver-based Teck Resources and London’s Anglo American have agreed to merge, creating the world’s fourth-largest copper producer. The transaction, structured as an all-share deal, will leave Anglo with 60 percent ownership of the new company and Teck with 40 percent. The merged entity will be known as Anglo Teck, with operational headquarters in Vancouver and administrative offices in London. This strategic alignment underscores how central copper has become in the race to secure critical minerals vital to the global energy transition.

Teck’s Chairman Emeritus, Norman B. Keevil, who retains controlling power through his ownership of the super-voting A shares, described the merger as a union of equals rather than a takeover. He emphasized that the deal secures Teck’s long-term future, giving the Canadian miner the resilience it needs to weather industry challenges. The leadership structure reflects this balance, with Anglo CEO Duncan Wanblad taking the top job at Anglo Teck, while Teck’s Jonathan Price steps into the deputy role.

The decision comes after a rocky period for Teck, particularly at its QB2 copper project in Chile. The high-altitude Andean mine has faced cost overruns and complications with its tailings pond, highlighting operational vulnerabilities. Pairing QB with Anglo’s Collahuasi mine, situated nearby, could unlock significant efficiencies. Collahuasi, one of the world’s largest copper deposits, is already shared between Anglo, Glencore, and Mitsui. By bringing QB and Collahuasi together, Anglo Teck hopes to achieve billions in cost synergies, an advantage Keevil argued is essential when confronting the realities of mega-project overruns.

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