September 9, 2025 - UK-South African mineral producer Anglo American and Canadian metal producer Teck Resources will merge to form the Anglo Teck Group, creating a consolidated iron ore, copper, and zinc business.

Anglo American will exchange existing Teck shares for 1.3301 Anglo American shares. It will also issue a $4.5bn dividend to existing Anglo American shareholders ahead of the merger, it said on 9 September.

"This merger of two highly complementary portfolios will create a leading global critical minerals champion headquartered in Canada — a top five global copper producer with exceptional mining and processing assets located across Canada, the US, Latin America, and southern Africa," Teck Resources' chief executive Jonathan Price said.

Anglo Teck will also support Anglo American's existing plan to fully divest from its diamond, coking coal, and nickel businesses. Anglo American plans to advance the divestment project before closing the deal.

Anglo Teck will own a range of zinc, copper, and iron ore projects after the merger.

Teck Resources expects to produce 470,000–525,000t of copper, 525,000–575,000t of zinc, and 190,000–230,000t of refined zinc in 2025, according to its latest production guidance.

Anglo American also plans to produce 690,000–750,000t of copper and 57mn–61mn t of iron ore in 2025, in addition to other minerals.

Anglo American's merger with Teck comes just weeks after US producer Peabody backed out of a $3.8bn agreement to buy the company's coking coal assets in Queensland, because of the months-long closure of its Moranbah North mine.