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International Business Times

Business

Miners Anglo American, Teck Plan New Copper Giant

Anglo American TECK copper Jonathan Price Anglo Teck Teck Resources Mining

Copper demand has exploded in recent years as the world transitions to cleaner energy and artificial intelligence (Credit: AFP)

British mining group Anglo American and Canadian peer Teck Resources on Tuesday announced plans for a multi-billion-dollar merger, creating a champion of copper production and other critical minerals.

A combined group is worth more than US$50 billion according to the companies' current market values, while the agreed deal is expected to complete in 12-18 months, subject to regulatory hurdles.

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