The Merger Announcement
On September 12, 2025, Anglo American and Teck Resources announced a landmark “merger of equals,” creating a new global mining giant to be known as Anglo Teck. The deal, valued at around US$69 billion, will merge the companies’ copper, metallurgical coal, and base-metal assets, positioning the new entity as one of the most influential players in the energy-transition supply chain. Headquarters will be established in Vancouver, Canada, with stock listings in London, Johannesburg, Toronto, and New York.
Strategic Rationale
Both companies framed the merger as a strategic response to surging global demand for copper, nickel, and other critical minerals. Anglo American contributes its strong portfolio in South America and Africa, while Teck brings high-quality Canadian and Chilean operations. The combined balance sheet and operational synergies are expected to improve project financing, accelerate exploration, and reduce vulnerability to price volatility. Analysts see Anglo Teck as a copper “super-major,” able to compete with BHP and Rio Tinto in scale and influence.
Implications for Peru and the Region
The merger has direct relevance for Peru, one of the world’s top copper exporters. While Teck and Anglo currently have limited direct operations in Peru, the consolidation increases competitive pressure across Latin America’s copper belt, including Peru, Chile, and Ecuador. For communities and governments, the arrival of Anglo Teck signals both opportunities for new investment and challenges in ensuring that mega- corporations adhere to high standards of sustainability and community engagement. The deal also underscores how the global race for critical minerals is reshaping the structure of the mining industry.