Anglo American plc and Teck Resources Limited have received approval from the Government of Canada under the Investment Canada Act for their proposed merger of equals, the companies said in a statement dated December 16, 2025.
The merger, which was announced on September 9, 2025, was approved by shareholders of both companies at meetings held on December 9, 2025.
Completion of the transaction remains subject to customary conditions, including competition and regulatory approvals in other jurisdictions. Competition approvals have already been granted in Canada and Australia, with other reviews ongoing.
Upon completion, the combined company will be known as Anglo Teck and will have its global headquarters in Vancouver, Canada.
Anglo Teck will have its primary listing on the London Stock Exchange, retaining inclusion in the FTSE UK indices, and will also be listed on the Johannesburg Stock Exchange, Toronto Stock Exchange and New York Stock Exchange, subject to approval by the relevant exchanges.
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As part of the approval process, Anglo American and Teck agreed to a set of binding commitments with the Government of Canada under the Investment Canada Act. These include maintaining Anglo Teck’s global headquarters in Canada, basing a significant majority of senior management in the country, and ensuring that a substantial proportion of the board of directors is Canadian.
The commitments also include planned expenditure of at least C$4.5 billion in Canada within five years, rising to a minimum of C$10 billion over 15 years. This investment will cover the life-extension of the Highland Valley Copper mine, the sustaining and enhancement of critical minerals processing capacity at Teck’s Trail Operations, and the advancement of the Galore Creek and Schaft Creek copper projects in British Columbia.
Additional commitments include spending on critical minerals exploration and technology in Canada, the establishment of a Global Institute for Critical Minerals Research and Innovation involving institutions in Canada, South Africa and the United Kingdom, and continued support for Indigenous governments, communities and labour agreements in Canada.
The statement also outlines commitments relating to South Africa, including continued compliance with empowerment and mining licence requirements by subsidiaries operating in the country, support for junior mining companies, and a planned contribution of ZAR600 million to South Africa’s Junior Mining Exploration Fund.
Anglo American said it will continue to operate the Unki platinum group metals mine in Zimbabwe.
Anglo American is a global mining company focused on the production of copper, premium iron ore and crop nutrients.
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