Anglo Teck copper merger wins shareholder approval

The projected Anglo Teck copper merger has been approved by the shareholders of Anglo American and Teck Resources.

More than 99.17% of votes formed by the shareholders of the London-listed miner backed the deal.

Teck's shareholders besides surpassed the required two-thirds support threshold.

The combined entity, Anglo Teck, volition beryllium headquartered successful Vancouver, Canada.

The merger, archetypal announced successful September, volition present determination guardant to get regulatory approvals successful respective jurisdictions including Canada.

The combined Anglo Teck copper entity is projected to person much than 70% vulnerability to copper, with important opportunities for further growth.

By the 4th twelvemonth aft completion, the merger is expected to make $800m (C$1.11bn) successful yearly outgo savings and ratio gains.

Anglo American CEO Duncan Wanblad said: “We are highly pleased to person received specified beardown enactment some from shareholders and stakeholders alike. Today marks a large milestone towards forming Anglo Teck – a planetary captious minerals champion, headquartered successful Canada, and a apical 5 planetary copper producer.

“Bringing unneurotic the champion of some companies, Anglo Teck is acceptable up to present outstanding worth for shareholders of some companies – successful the adjacent word done a unsocial operation of concern and different synergies, and successful the longer word by applying proven capabilities to exceptional maturation optionality, offering investors much than 70% vulnerability to copper."

The merger remains contingent connected customary closing conditions including support nether the Investment Canada Act and obtaining contention and regulatory clearances successful aggregate jurisdictions worldwide.

Wanblad added: “Looking ahead, we volition proceed to enactment intimately with Teck and the regulatory authorities crossed assorted jurisdictions during the people of 2026 to get the indispensable approvals to advancement towards completion.”

Anglo American is dedicated to producing 'future‑enabling materials' including copper, premium robust ore and harvest nutrients.

"Anglo Teck copper merger wins shareholder approval" was primitively created and published by Mining Technology, a GlobalData owned brand.

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