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LONDON - Anglo American plc and Teck Resources Limited have agreed to combine in a merger of equals to create Anglo Teck, a new global critical minerals company that will be headquartered in Canada, according to a regulatory announcement released Friday.
The merger, which was initially announced on September 9, constitutes a Significant Transaction under UK Listing Rules due to its size relative to Anglo American.
The regulatory filing disclosed that Anglo American recently completed the sale of its entire 19.9% stake in Valterra Platinum Limited on September 3, generating approximately $2.5 billion in cash proceeds. This transaction represented the final divestment following the demerger of Valterra Platinum that was completed at the end of May 2025.
The announcement also revealed ongoing arbitration proceedings initiated by Anglo American against Peabody Energy on September 23. The dispute relates to Peabody’s termination of agreements to acquire Anglo American’s steelmaking coal business in Australia. Peabody cited a material adverse change due to an ignition event at the Moranbah North Mine, which Anglo American contests.
Additionally, the filing outlined several other recent material transactions by both companies, including Anglo American’s sale of its nickel business in Brazil to MMG Singapore Resources for up to $500 million, and Teck’s completed sale of its steelmaking coal business to Glencore in July 2024 for $7.3 billion.
The document provided details on litigation matters facing both companies, including Anglo American’s legal proceedings related to alleged lead poisoning from the Kabwe mine in Zambia, and Teck’s ongoing environmental investigations concerning the Upper Columbia River in Washington State.
The regulatory announcement states that the merger will create "a global critical minerals champion," though specific details about the combined entity’s operations and structure were not included in this filing.
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