Ottawa approves Teck and Anglo American, companies say

OTTAWA — Industry Minister Mélanie Joly has approved a merger between Canadian natural resources company Teck Resources Ltd. and Britain’s Anglo American PLC.

In a statement published late today Joly says she has determined the merger will be a net benefit to Canada.

Teck and Anglo American announced the approval in separate statements, referring to the deal as a “merger of equals” even though Anglo American is worth more than double Teck.

Shareholders gave their blessing last week to the plan, which was first announced in September and will create a copper mining powerhouse called Anglo Teck.

Under the terms of the approval the headquarters will be in Vancouver as will most of the company’s executives and board members.

Teck CEO Jonathan Price says the approval will move forward the formation of a new “global critical minerals champion.”

This report by The Canadian Press was first published Dec. 15, 2025.

Companies in this story: (TSX:TECK.B)

The Canadian Press