South Africa’s Mining Icon Anglo American Shifts Global Base in Historic $69bn Deal

Anglo American Plc, one of Africa’s most iconic mining companies, is entering a transformative new chapter following approval of a landmark $69 billion merger with Canada’s Teck Resources Ltd. Founded in Johannesburg 108 years ago, the company has long been synonymous with South Africa’s industrial and mining development. The transaction, which creates a new global powerhouse known as Anglo Teck, represents a defining moment in African corporate history and signals a broader realignment within the global mining industry.

Under the terms of the deal, Anglo Teck will establish its global headquarters in Vancouver, Canada, while maintaining significant corporate offices in Johannesburg and London. The merger ranks as the second-largest transaction ever recorded in African corporate history and positions the new entity among the world’s largest diversified mining companies. By combining complementary asset portfolios, Anglo Teck gains increased scale across critical commodities including copper, zinc, coal, and iron ore. These materials are essential for infrastructure development, renewable energy systems, and electric vehicle manufacturing, placing the company at the center of global energy transition supply chains.

Strategically, the merger strengthens Anglo Teck’s competitive standing against major global rivals such as BHP, Rio Tinto, Vale, and Glencore. Regulatory approvals have already been secured in Canada and Australia, reflecting strong international confidence in the transaction’s structure and governance. The company plans to maintain multiple stock exchange listings in London, Johannesburg, Toronto, and New York, ensuring broad investor access and preserving historical ties to its founding markets while expanding its North American footprint.

At the same time, Anglo American continues to scale down certain South African operations in response to rising production costs, power supply constraints, and logistics challenges. Despite this operational contraction, the company has reaffirmed its long-term commitment to South Africa. This includes ongoing investments, continued support for local communities, and sustained South African representation at board and executive levels. The shift in strategy also reflects changing global demand, particularly a gradual move away from coal and platinum toward minerals aligned with clean energy technologies.

Looking ahead, the creation of Anglo Teck is likely to influence mining investment flows across Africa, particularly in countries rich in copper, iron ore, and battery metals. While South Africa may see reduced dominance in Anglo American’s operational portfolio, the merger underscores the continent’s enduring role as a foundation for global mining capital and expertise. For African economies, the deal highlights the importance of infrastructure reliability, regulatory stability, and cost competitiveness in retaining large-scale mining investments amid an increasingly globalized and transition-focused minerals market.

Mini-Glossary

• Diversified mining company: A mining firm that operates across multiple minerals rather than focusing on a single commodity.
• Critical minerals: Minerals essential for clean energy technologies, electric vehicles, and advanced manufacturing.
• Energy transition: The global shift from fossil fuels to renewable and low-carbon energy sources.
• Market capitalization: The total value of a company’s shares on the stock market.
• Regulatory approvals: Formal permissions from government authorities required to complete large mergers or acquisitions.

Editor: Vural Burç ÇAKIR

Image Credit: Official LinkedIn account of Anglo American