11:41:55 EST Thu 04 Dec 2025
Enter Symbol
or Name
USA
CA



Teck Resources Ltd
Symbol TECK
Shares Issued 480,624,385
Close 2025-12-03 C$ 62.04
Market Cap C$ 29,817,936,845
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Globe says Anglo's Teck merger faces growing backlash

2025-12-04 07:41 ET - In the News

The Globe and Mail reports in its Thursday edition that Canada will gain most benefits from the merger between Anglo American and Teck Resources, while the deal will sever Anglo's ties to South Africa, according to an economist. The Globe's Geoffrey York writes that South African economist Duma Gqubule has criticized the deal amid rising protests in the country, where Anglo has historically been a dominant player. Anglo, now based in London, said in September it would acquire Teck in an all-stock deal valued at about $20-billion (U.S.). As part of the deal, Anglo promised to move its global headquarters to Vancouver. The two companies have also pledged to spend about $4.5-billion (Canadian) in Canada over five years. The deal may include more concessions from Anglo, as Industry Minister Melanie Joly seeks added benefits for Canada. Shareholders will vote on the proposal next week. The merger would be "a final death knell" for Anglo's connections to its birthplace, where it had a labour force of nearly 90,000 people as recently as a decade ago, Mr. Gqubule said Wednesday. After the deal, Anglo is likely to divest its last big South African asset, Kumba Iron Ore, along with the De Beers diamond company, he said.

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