Anglo American's $54 billion merger with Canada's Teck Resources, announced in 2025, has received approval from all countries where the companies operate except China. According to reports from Reuters, both companies expect the deal to close by March 2027. CEO Duncan Wanblad described the situation as 'new waters' and pioneering work, stating he doesn't believe there should be antitrust issues with the merger. Speaking at a mining conference in Johannesburg via video link, Wanblad emphasized that 'We are in new waters. We are pioneering in a way. I genuinely don't think from an antitrust perspective there should be any issues with any of these deals.'
China's antitrust regulator has requested that Anglo American commit to supplying the country with a steady flow of copper concentrate as a condition for approving the merger, as reported by Reuters. This development highlights how critical minerals have become a flashpoint in global competition, with major economies seeking to secure supply chains for electric vehicles, renewable energy and defence. The merger would expand Anglo's copper portfolio, positioning it as the fifth-largest producer of the metal critical to the energy transition. Wanblad acknowledged that 'Geopolitical shifts, supply chain disruptions and critical mineral nationalism have created a complex environment for such deals.'
Anglo American is also pursuing other significant divestments as part of its restructuring strategy. According to Reuters, the company has agreed to sell its steelmaking coal mines in Australia to UK-based miner Dhilmar for up to $3.88 billion. Additionally, the proposed sale of its Brazilian nickel business to MMG is awaiting EU approval, despite drawing a warning from the European Union over concerns about potential supply diversion away from Europe. Wanblad noted that 'We are kind of the guinea pigs for the market in terms of working this out.'
CEO Duncan Wanblad expressed optimism about the completion timeline for Anglo American's diamond company De Beers sale, stating he was hopeful the transaction would be completed by the end of this year, as reported by Reuters. The sale of these assets is part of Anglo's broader restructuring aimed at focusing on copper and iron ore operations. The company is effectively serving as a test case for navigating the complex geopolitical environment affecting major mining deals.
