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Vancouver-based Teck Resources and Anglo American announce merger
The merger will create a top-five global copper producer with $800 million in annual cost savings expected by year four, led by CEO Duncan Wanblad and headquartered in Canada.
- Anglo American is nearing a deal to acquire Teck Resources, possibly creating the largest mining transaction in over a decade.
- The merger will form Anglo Teck plc, with Anglo shareholders possessing 62.4% of the new company.
- The projected copper output is 1.2 million tonnes annually, with an increase to 1.35 million tonnes by 2027.
- The headquarters will be in Vancouver, with listings in London, Johannesburg, Toronto, and New York.
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133 Articles
133 Articles
The recent announcement of the intention to merge between Anglo American and Teck Resources marks a momentous milestone for global mining. It is not simply the planned union of two major companies, but the creation of a true champion of critical minerals that, if realized, will play a leading role in the energy transition, digitization and sustainable development. Both companies are strategic partners of the International Copper Association (ICA…
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Teck-Anglo deal could boost Canadian critical mineral output: experts
TORONTO — Experts say the proposed merger between Teck Resources Ltd. and Anglo American PLC to create a $70 billion, critical minerals-focused giant could help Canada's efforts to boost production of the metals that are key to the energy transition.
Coverage Details
Total News Sources133
Leaning Left34Leaning Right14Center23Last UpdatedBias Distribution48% Left
Bias Distribution
- 48% of the sources lean Left
48% Left
L 48%
C 32%
R 20%
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