The Latest Breaking News from Anglo

Anglo American plc (OTC:NGLOY) announced Tuesday that it has agreed to a merger of equals with Teck Resources (NYSE:TECK), creating a combined mining group valued at approximately $55 billion.

The proposed $53bn merger looks logical in its own terms but it is far from being a done deal

The FTSE 100 index closed up 21.09 points, or 0.2%, at 9,242.53.

The tie-up is set to be the biggest mining sector merger in over a decade.

Anglo American (OTC:NGLOY) and Teck Resources (NYSE:TECK) have agreed to combine forces in a $53 billion merger of equals that will create one of the world’s largest critical mineral producers. Anglo Teck, the new company, will have a headquarters in Vancouver and a primary listing in London, with additional listings…

The combined group will be headquartered in Vancouver, in Canada, but will retain it primary listing in London.

The combined group will be headquartered in Vancouver, in Canada, but will retain it primary listing in London.

Two of world’s largest copper producers to combine, retaining London listing but raising prospect of job cuts

Deal will create $53bn mining giant but raises fears of job cuts as headquarters moves to Vancouver

Peabody Energy Corp. (NYSE:BTU) has abandoned its planned $3.8 billion purchase of steelmaking coal assets from Anglo American (OTC:AAUKF), citing a material adverse change following a March fire at the Moranbah North mine in Australia. The incident left the mine idled with no clear timeline for resuming longwall production.

Botswana is reportedly seeking a controlling stake in the leading diamond producer De Beers, potentially complicating Anglo American's (OTCQX:AAUKF) plans for the sale.