Canada Approves Anglo American–Teck Merger under Investment Canada Act

Published: Dec 16, 2025 19:49

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Teck Resources and Anglo American said on December 15 that they have received regulatory approval from the Government of Canada under the Investment Canada Act for their previously announced merger of equals, paving the way for the creation of Anglo Teck, a global critical minerals group headquartered in Canada.

As part of the approval, Anglo American and Teck have agreed to a set of binding commitments, including a minimum C$4.5 billion investment in Canada over the first five years. Planned spending will include the Highland Valley Copper mine life extension, expansion of critical minerals processing capacity at Trail, and advancement of the Galore Creek and Schaft Creek copper projects in northwestern British Columbia. Total investment in Canada is expected to reach at least C$10 billion over 15 years.

Both companies said the merger would establish a global critical minerals champion with significant scale and long-term investment commitments in Canada. Teck CEO Jonathan Price said the approval represents a key step toward completing the transaction, while Anglo American CEO Duncan Wanblad noted the merger follows shareholder approvals from both companies earlier this month.

The merger was approved by shareholders of both companies on December 9, 2025. Completion remains subject to customary conditions, including additional regulatory approvals in other jurisdictions. Competition approvals have already been secured in Canada and Australia, with other reviews ongoing.

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