OTTAWA – Canadian Industry Minister Mélanie Joly has officially approved the merger between Teck Resources Ltd., a Canadian natural resources company, and Britain’s Anglo American PLC. In a statement, Joly emphasized that this merger will be a net benefit to Canada, characterizing it as a “significant win” for the country.
The approval comes after shareholders of both companies provided their consent to the merger plan, which was first announced in September. The merger will create a new entity named Anglo Teck, anticipated to become a $70-billion powerhouse in the copper mining sector. Despite being labeled a "merger of equals," it is worth noting that Anglo American's market value is more than double that of Teck’s.
Under the terms of the approval, the headquarters of the new company will be situated in Vancouver, along with the majority of its executive team and board members. The merger is set to secure approximately 4,000 jobs in Canada, alongside a commitment to invest $4.5 billion in the country over the next five years. Joly stated the merger represents a solid endorsement of the federal government's initiatives aimed at strengthening the economy within the G7 nations.
In light of this merger, Joly expressed her confidence, saying, “Anglo Teck, with its global headquarters in Vancouver, will be a truly Canadian champion on the world stage.” The positive sentiment regarding the merger was echoed by British Columbia Premier David Eby, who took to social media to label the approval as “great news.” He remarked that Anglo Teck will emerge as the largest company in the province's history and emphasized its potential role in unlocking economic prosperity in the Northwest and creating advantageous job opportunities across British Columbia.
Teck's CEO, Jonathan Price, also shared his enthusiasm regarding the approval, suggesting that it would facilitate the formation of a “global critical minerals champion.” In its communications, Teck has indicated that while the merger has received competition approvals in Canada and Australia, the completion of the merger is still contingent on customary conditions typical for transactions of this magnitude, including additional regulatory approvals across various global jurisdictions.
As the merger process unfolds, various reviews are actively progressing in multiple regions, showcasing the upcoming shifts in the mining landscape and the anticipated impact on Canada's economy.
This report was initially published on December 15, 2025, highlighting a significant moment for Canadian natural resources as two major players unite to form a formidable competitor in the global market.
Companies involved in this story include Teck Resources Ltd., traded under TSX:TECK.B.
(Photo credit: The Teck Resources logo is seen on a podium before the company's special meeting of shareholders in Vancouver, B.C., April 26, 2023. THE CANADIAN PRESS/Darryl Dyck)
