Posted on 12 Dec 2025
Anglo American and Teck Resources have announced an “overwhelming” support from their shareholders for their proposed $53 billion “merger of equals,” Kallanish reports.
The votes held on 9 December clear the way for the merger to continue progressing towards completion. However, the deal remains subject to customary closing conditions, including approval under the Investment Canada Act and applicable competition and regulatory approvals in various jurisdictions globally. It also requires a final approval by the Supreme Court of British Columbia.
“We are extremely pleased to have received such strong support both from shareholders and stakeholders alike,” comments Anglo American chief executive 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.”
“This resoundingly positive vote marks an important milestone in creating Anglo Teck,” says Jonathan Price, Teck president and ceo. “We look forward to advancing the necessary regulatory approvals and completing the merger for the benefit of our shareholders, employees, communities, and partners.”
The miners say the combined company will offer more than 70% exposure to copper and have an “exceptional growth optionality,” thanks to its asset portfolio. When first announced, the deal was expected to close within 12-18 months.
Last month, Canadian industry minister Melanie Joly said the deal would be scrutinised by officials conducting a national security review, despite the companies’ attempts to satisfy Ottawa’s concerns. The Canadian government is reportedly seeking stronger, longer-term commitments to the country, such as domestic investment and job security.
Source:Kallanish
