Teck and Anglo American shareholders wave through $50bn Anglo Teck merger

Shareholders of Teck Resources and Anglo American voted overwhelmingly on 9 December 2025 to approve the merger of equals that will create Anglo Teck, a Canada-headquartered mining group built around copper, iron ore and the South African-linked platinum, diamond and coal interests still sitting inside Anglo's portfolio. At Teck's special meeting, 99.7% of votes cast by Class A common shareholders and 89.7% of votes cast by Class B subordinate voting shareholders backed the arrangement resolution, comfortably clearing the two-thirds threshold required under Canadian company law. Anglo American's own resolutions passed by similarly wide margins at its general meeting the same day.

What the deal does

Announced in September 2025, the transaction combines Anglo American and Teck through an all-share exchange, with the enlarged group intended to rank among the world's top five copper producers. For Anglo, the merger is the latest step in a multi-year reshaping of the business that has already seen it demerge its platinum unit as Valterra Platinum and put its De Beers diamond business up for sale. What remains inside the merged group includes Anglo's Kumba Iron Ore operations in South Africa's Northern Cape, alongside its Chilean and Peruvian copper mines and Teck's own Canadian and South American assets.

Regulatory hurdles remain

Shareholder approval was always expected to be the easier part of the process. Teck obtained a final order from the Supreme Court of British Columbia on 12 December 2025 and clearance under Canada's Investment Canada Act three days later, but the deal still needs sign-off from competition regulators in China and South Korea before it can close. Anglo American chief executive Duncan Wanblad has said the company is in active dialogue with Chinese authorities, without disclosing details, and both companies have pointed to a closing window stretching from September 2026 into early 2027 depending on how quickly that approval comes.

Why it matters for African mining

Anglo Teck will not be headquartered in Africa, but its South African iron ore business remains a significant JSE-linked earner and a major Transnet rail and Saldanha port customer, so the pace and outcome of the merger has direct implications for the logistics chain that carries Kumba's ore to export markets. The deal also underscores how thoroughly Anglo American has restructured since 2023, shedding coal, spinning off platinum and now merging away its standalone identity in pursuit of scale in copper, the metal at the centre of the global energy transition.

Sources

• Anglo American: Anglo American and Teck shareholders approve merger of equals to form Anglo Teck, 09 Dec 2025
• Teck Resources / GlobeNewswire: Teck Reports Voting Results from Special Meeting of Shareholders, 09 Dec 2025
• Mining Weekly: Shareholder approvals clear path for Anglo-Teck merger's regulatory test, 10 Dec 2025

Photo: The Sishen open-pit iron ore mine in South Africa's Northern Cape, operated by Kumba Iron Ore, Anglo American's majority-owned subsidiary. Graeme Williams, Media Club, Wikimedia Commons, CC BY-SA 2.0.