The Financial Post reports in its Thursday edition that in announcing plans to merge with Anglo American PLC to create the world's fifth-largest copper miner, Teck Resources took pains to signal that it will do everything it can to preserve its Canadian heritage. The Post's Gabriel Friedman writes to that end, the proposed new entity, Anglo Teck, will keep its headquarters in Vancouver and the company's top two executives will relocate and work out of that office. Whether a company identifies as Canadian may not rank as a top concern for investors, but as the world moves toward cleaner energy sources and looks for new sources of critical minerals, governments are paying closer attention to how mining mergers affect their domestic industries. Often, they have as much power as investors to make or break a deal. Still, there is skepticism about whether the "Canadian-ness" of Anglo Teck will hold. Pierre Lassonde, chair emeritus of Franco Nevada, said he thinks any commitments that the government wrings from Teck or Anglo to maintain operations in Canada will fall by the wayside or be forgotten. "Five years down the road, nobody will remember the promises," he said. "I guarantee you the head office will be back in London."
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