US EditionTeck merger a ‘vote of confidence,’ says Eby, pitching B.C. as Canada’s ‘engine’
The $70 billion merger aims to create the world's largest critical minerals company, adding 1,500 jobs and extending a major copper mine's life to 2046, supporting economic growth amid trade challenges.
- British Columbia Premier David Eby announced a proposed $70-billion merger of Vancouver-based Teck Resources and London-based Anglo American to form Anglo Teck headquartered in B.C.
- The merger follows Teck's recent vulnerability due to share price weakness and engineering challenges at its mines, prompting it to seek a strategic alliance for long-term stability.
- Officials highlighted the merger's significance for critical minerals production, including copper vital for green energy and defense technologies produced at Teck's Trail smelter amid global supply concerns.
- Premier Eby called the union a 'vote of confidence' for B.C. as a global mining hub, promising billions in investment and 1,500 ongoing jobs while Teck CEO Jonathan Price confirmed the company will remain Canadian.
- The merger faces regulatory review under the Investment Canada Act and could enhance B.C.'s role in critical minerals, though concerns remain about foreign ownership and maintaining Canada's mining identity.
33 Articles
33 Articles
Teck merger a ‘vote of confidence,’ says Eby, pitching B.C. as Canada’s ‘engine’
British Columbia Premier David Eby says the proposed merger between Teck Resources Ltd. and Anglo American PLC to create a $70 billion mining giant based in B.C. is a “vote of confidence” showing the province is a global hub for mining.
Winnipeg Free Press
Teck merger a 'vote of confidence,' says Eby, pitching B.C. as Canada's 'engine'
Breaking News, Sports, Manitoba, Canada
Key player in B.C.'s fight against U.S. tariffs says it will stay Canadian despite U.K. merger
Vancouver-based Teck Resources says it will remain Canadian, even as it plans to merge with British multinational Anglo American PLC in a $70-billion deal that would create a new company called Anglo Teck.
The merger of the Anglo American (AAL) and Teck mining companies could reach $800 million in synergies, according to Citigroup’s assessment. “According to our proforma analysis, the terms of the transaction are likely to generate an increase in profits of between 9% and 11% for AAL. The proposed synergies, which could reach $800 million, drive the increase in profits, and the synergies of QB-Collahuasi provide an even more significant upward pot…
Why the proposed Teck Resources merger is a big deal for B.C.
By Andrew Kurjata – CBC News Vancouver-based Teck Resources says it will remain Canadian, even as it plans to merge with British multinational Anglo American in a $70-billion deal that would create a new company called Anglo Teck. “Without a doubt, you know, this is absolutely going to be a Canadian company,” Teck CEO Jonathan Price told The Canadian Press Tuesday. “We will be creating the largest head office in Vancouver, and it really is unpre…
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