Anglo American plc and Teck Resources Limited have advanced regulatory disclosures confirming their landmark “merger of equals” to form a new entity, Anglo Teck, which aims to become a global leader in critical minerals.

The combined group will be headquartered in Canada and positioned to supply essential materials for the clean energy transition.

The merger, initially announced on 9 September 2025, is classified as a Significant Transaction under the UK Listing Rules due to its scale relative to Anglo American. It requires notification in accordance with the Financial Conduct Authority’s regulations under the UK Financial Services and Markets Act.

Anglo American has undertaken a series of strategic portfolio adjustments in preparation for the merger. In 2025 alone, the company has:

• Completed the demerger of Valterra Platinum, formerly Anglo American Platinum, finalised on 31 May 2025, followed by the sale of its remaining 19.9% interest in Valterra for US$2.5 billion.
• Signed new long-term agreements with the Government of Botswana, extending Debswana’s mining licences to 2054 and securing a 10-year sales agreement for De Beers diamonds.
• Agreed to sell its nickel operations in Brazil to MMG Singapore Resources for up to US$500 million, with completion expected in the fourth quarter of 2025.
• Disposed of its steelmaking coal portfolio in Australia to Peabody for up to US$3.775 billion.
• Sold its 33.3% stake in Jellinbah Group for A$1.6 billion, completed in early 2025.
• Acquired Vale’s Serra da Serpentina iron ore resource in Brazil, integrating it into the Minas-Rio operation, with Vale taking a 15% stake in the expanded project.

These moves align with Anglo American’s strategic shift toward future-facing commodities such as copper, nickel, and platinum group metals, which are critical for the global green economy.

Teck has similarly restructured its portfolio, completing the sale of its 77% interest in its steelmaking coal business to Glencore in July 2024 for US$7.3 billion. The company continues to manage indemnification obligations relating to water and environmental liabilities arising from that sale, including recent charges under Canada’s Fisheries Act.

Teck is also engaged in long-running environmental litigation concerning the Upper Columbia River study area in the United States, where it is funding a remedial investigation under U.S. Environmental Protection Agency oversight.

Anglo American is currently pursuing arbitration against Peabody Energy, alleging wrongful termination of the 2024 coal sale agreement after an incident at the Moranbah North Mine in March 2025. The company argues that the event does not constitute a “material adverse change” under the agreement.

The group also continues to defend itself in a lead poisoning class action appeal filed in South Africa, related to historical operations at Zambia’s Kabwe mine. A 2023 High Court ruling dismissed the original claim, citing multiple legal flaws.

The merger will consolidate both companies’ expertise across copper, nickel, platinum, and diamond operations, creating one of the world’s most diversified critical mineral producers.

Upon completion, Anglo Teck is expected to command a strengthened position in global markets, benefiting from enhanced scale, asset diversification, and exposure to metals vital for decarbonisation technologies.