Ottawa approves Teck and Anglo American, companies say
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Article contentOTTAWA — Industry Minister Melanie Joly has approved a merger between Canadian natural resources company Teck Resources Ltd. and Britain’s Anglo American PLC.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentJoly says in a statement she has determined the merger will be a net benefit to Canada and called it a “significant win.”Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentTeck 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.Article contentShareholders last week gave their blessing to the plan, which was first announced in September, to create Anglo Teck, a $70-billion copper mining powerhouse.Article contentArticle contentUnder the terms of the approval, the headquarters will be in Vancouver, as will most of the company’s executives and board members.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentJoly 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.Article content“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.Article content“Anglo Teck, with its global headquarters in Vancouver, will be a truly Canadian champion on the world stage.”Article contentIn a post on social media, B.C.
Premier David Eby called the move “great news.”Article content“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.”Article contentTeck CEO Jonathan Price said the approval will move forward the formation of a “global critical minerals champion.”Article contentTeck 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.”Article contentIt says the merger has already received competition approvals in Canada and Australia, while other reviews are progressing.Article contentThis report by The Canadian Press was first published Dec. 15, 2025.Article contentCompanies in this story: (TSX:TECK.B)Article contentTrending Bank of Canada expected to hold interest rate steady through 2026 as inflation cools Economy The Federal Reserve’s rate cut was a clear signal to investors Investor Posthaste: Canada's provinces face 'deteriorating' outlook, says Fitch Ratings News McKinsey plots thousands of layoffs in consulting slowdown Work Garry Marr: How raiding your TFSA before the end of year could save you thousands Personal Finance Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Bank of Canada expected to hold interest rate steady through 2026 as inflation cools Economy The Federal Reserve’s rate cut was a clear signal to investors Investor Posthaste: Canada's provinces face 'deteriorating' outlook, says Fitch Ratings News McKinsey plots thousands of layoffs in consulting slowdown Work Garry Marr: How raiding your TFSA before the end of year could save you thousands Personal Finance