Approved · Notification · Phase 1 · decided in 25 days, 18 Nov 2025
Resources & MiningMN-01037ACCC register
Anglo American plc proposes to acquire the entire issued share capital of Teck Resources Limited via a statutory plan of arrangement, similar to an Australian Scheme of Arrangement. This merger involves global mining companies, with Anglo American focused on copper, iron ore, and steelmaking coal, and Teck Resources on copper and zinc production.
Anglo American plc (Anglo American) proposes to acquire, through its affiliates and subsidiaries, the entire issued share capital of Teck Resources Limited (Teck Resources) by way of statutory plan of arrangement (similar to an Australian Scheme of Arrangement) to effect a merger between the parties. Anglo American is a global mining company focused on the production of copper and iron ore. It also produces steelmaking coal, nickel, diamonds, and molybdenum and holds a joint venture interest in Samancor Manganese. Anglo American is a publicly traded company listed on the London Stock Exchange, with secondary listings on the Johannesburg Stock Exchange, SIX Swiss Exchange, the Botswana Stock Exchange and the Namibia Securities Exchange. Anglo American’s business in Australia is primarily focused on the production and sale of steelmaking (or metallurgical) coal for export to Asia, Europe and South America, although it has taken steps to sell this business. Anglo American also has some exploration activities in Australia. Teck Resources is a Canadian mining company with operations in multiple countries, including Canada, the United States, Chile and Peru. Its operations consist of a metals business focused on copper and zinc production. In addition, Teck Resources produces lead, silver, gold, molybdenum, and various other specialty and other metals, chemicals and fertilizer products. Teck’s shares are listed on the Toronto Stock Exchange and New York Stock Exchange. Teck Resources’ business in Australia primarily involves the supply of zinc concentrate to Australian customers. Teck Resources does not supply copper to any Australian customers and has no copper or zinc mining or production operations in Australia. Its local presence is limited to exploration and closure activities. Anglo American and Teck Resources' primary overlap globally is in the supply of copper products (mainly copper concentrate and secondary copper products), along with minor global overlaps in certain by-products of copper and other mining and processing activities, being molybdenum and sulphuric acid. There are no horizontal overlaps in respect of the supply of goods or services in Australia; neither Anglo American nor Teck Resources have copper mining or production activities in Australia, or supply copper, molybdenum or sulphuric acid to Australian customers. The parties have not identified any non-horizontal relationships as being relevant to Australia.