Anglo American and Teck Clear Shareholder Vote for Landmark Copper Merger

Anglo American and Teck Resources have reached a critical milestone after shareholders of both companies voted in favor of their proposed merger, clearing the way for the creation of a major new force in the global copper industry. The approval marks a decisive endorsement of what has been positioned as a merger of equals, reflecting investor confidence in the strategic rationale and long term value proposition of the transaction. With shareholder backing secured, the focus now shifts to obtaining regulatory clearances before the deal can be fully completed.

Under the agreed structure, the combined entity will be named Anglo Teck and will be headquartered in Canada. The merged group is expected to rank among the world’s top five copper producers, significantly increasing its scale, geographic reach, and influence within the global mining sector. Both boards have consistently promoted the transaction as a transformational step designed to strengthen competitiveness, improve resilience across commodity cycles, and better align the business with future facing demand trends.

A central pillar of the merger is its strong exposure to copper, with investors expected to gain more than 70 percent exposure to the metal within the combined portfolio. Copper is widely regarded as a cornerstone material for the global energy transition, playing a critical role in renewable energy systems, electric vehicles, and power grid expansion. By consolidating high quality copper assets, Anglo Teck aims to position itself at the forefront of supply growth for a commodity that is forecast to face structural shortages over the coming decades.

The companies have also highlighted the potential for meaningful operational and industrial synergies. These include efficiencies across project development, procurement, technology deployment, and capital allocation. Management believes that the scale and complementary nature of the asset bases will support improved margins and more disciplined investment decisions, enhancing long term shareholder returns while maintaining a strong focus on safety and sustainability.

Despite shareholder approval, the merger remains subject to regulatory reviews across multiple jurisdictions. These include assessments by competition authorities and scrutiny under the Investment Canada Act, among other regulatory frameworks. The companies have indicated that the approval process is likely to extend through 2026, reflecting the size and strategic importance of the transaction.

If completed, the formation of Anglo Teck would represent one of the most significant shifts in the global mining landscape in recent years. For Africa and other copper producing regions, the emergence of a larger, copper focused major could influence future investment flows, project development priorities, and supply chain strategies. More broadly, the merger underscores how mining companies are repositioning to capture growth linked to electrification and decarbonisation, with copper increasingly at the centre of global industrial and economic transformation.

Mini-Glossary

• Merger of equals: A combination of two companies of similar size and strategic importance, rather than a takeover.
• Operational synergies: Cost savings or efficiency gains achieved by combining operations, systems, or assets.
• Industrial synergies: Benefits arising from shared technologies, processing methods, or infrastructure.
• Competition authorities: Regulatory bodies that assess whether mergers could reduce market competition.
• Investment Canada Act: Canadian legislation that reviews significant foreign investments for national benefit.

Editor: Vural Burç ÇAKIR