Ottawa approves Teck and Anglo American, companies say
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$0 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*No charge for 4 weeks then price increases to the regular rate of $19.95 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.99/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19.95 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
OTTAWA – Industry Minister Mélanie Joly has approved a merger between Canadian natural resources company Teck Resources Ltd. and Britain’s Anglo American PLC.
Joly says in a statement she has determined the merger will be a net benefit to Canada and called it a “significant win.”
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’s value.
Shareholders last week gave their blessing to the plan, which was first announced in September, to create Anglo Teck, a $70-billion copper mining powerhouse.
Under the terms of the approval, the headquarters will be in Vancouver, as will most of the company’s executives and board members.
Joly says the companies have agreed to several commitments that include securing about 4,000 jobs in Canada and spending $4.5 billion in Canada over five years.
“It is an unequivocal endorsement of the federal government’s efforts to build the strongest economy in the G7,” Joly said in a statement Monday.
“Anglo Teck, with its global headquarters in Vancouver, will be a truly Canadian champion on the world stage.”
In a post on social media, B.C. Premier David Eby called the move “great news.”
“New mining giant Anglo Teck will be the largest company in our province’s history,” he said. “They’ll help unlock prosperity in the Northwest and deliver good jobs and benefits across the province.”
Teck CEO Jonathan Price said the approval will move forward the formation of a “global critical minerals champion.”
Teck says the completion of the merger “remains subject to conditions customary for a transaction of this nature, including the relevant regulatory approvals in various jurisdictions globally.”
It says the merger has already received competition approvals in Canada and Australia, while other reviews are progressing.
This report by The Canadian Press was first published Dec. 15, 2025.
Companies in this story: (TSX:TECK.B)