End of an era for 108-year-old mining giant founded in South Africa
Anglo American has received shareholder approval to merge with Canada’s Teck Resources, creating the Canada-headquartered Anglo Teck.
Anglo American is currently an England-based multinational, with origins tracing back to 1917 in South Africa.
The company initially started mining gold, but later expanded into diamonds, coal and other minerals.
It’s only South African operations now sit with Kumba Iron Ore, following the unbundling of Anglo American Platinum, now Valterra Platinum, earlier this year.
Amid fending off takeover bids from its rival BHP, Anglo American announced a merger of equals with Teck Resources.
Under the deal, Anglo shareholders will hold approximately 62% of the company, while Teck shareholders will receive the remaining shares.
Anglo will also pay a special dividend of approximately $4.5 billion to mitigate the impact of the deal.
99% of Anglo shareholders supported the deal last week, with Teck’s shareholders now also approving the deal.
“We are extremely pleased to have received such strong support both from shareholders and stakeholders alike,” said South African-born CEO of Anglo American, Duncan Wanblad.
“Today marks a major milestone towards forming Anglo Teck – a global critical minerals champion, headquartered in Canada, and a top five global copper producer.”
With the increased push into electrification across the globe, many miners are pushing looking to grow their copper resources.
“Bringing together the best of both companies, Anglo Teck is set up to deliver outstanding value for shareholders of both companies,” said Wanblad.
“Looking ahead, we will continue to work closely with Teck and the regulatory authorities across various jurisdictions during the course of 2026 to obtain the necessary approvals to progress towards completion.”
Completion of the merger remains subject to conditions customary of a transaction of this nature.
As per the deal, Wanblad will relocate from London, UK, to Vancouver, Canada. Anglo Teck is expected to be worth $53 billion following the merger.
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