"Copper, often dubbed the "metal of electrification," is the backbone of the global energy transition, powering electric vehicles, renewable energy systems, and advanced infrastructure, including artificial intelligence (AI) data centers. Its demand is skyrocketing, with prices climbing over 13% in 2025 alone, driven by supply constraints and soaring industrial needs. Against this backdrop, ) have Anglo American (OTC:NGLOY) and Teck Resources ( announced a blockbuster merger, creating Anglo Teck, the second-largest mining deal ever."
"The combined entity will control roughly 10% of global copper output, rivaling industry leader BHP ( ). This merger follows Anglo's strategic restructuring, announced in May 2024, to focus on copper, iron ore, and crop nutrients, shedding assets like its Anglo American Platinum unit. Teck, having divested its coal business to Glencore (OTC:GLNCY) in 2024, is similarly laser-focused on base metals, making this merger a natural fit."
Copper demand is surging due to electrification, EVs, renewables, AI data centers, and constrained supply, driving prices higher in 2025. Anglo American and Teck Resources agreed to a $50 billion merger forming Anglo Teck, with Anglo holding 62.4% and Teck 37.6% of the new company. The combined portfolio includes Los Bronces and Quellaveco in Chile and Peru, and Highland Valley in British Columbia, positioning the firm to rival BHP and control roughly 10% of global copper output. The deal aligns with Anglo's refocus on copper and Teck's shift away from coal, and targets closing by mid-2026.
Read at 24/7 Wall St.
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