Anglo Teck merger channels billions into BC copper while testing Canada's foreign-ownership nerves
Ottawa has just cleared a US$53bn Anglo American–Teck Resources merger in roughly three months, a pace that signals a clear willingness to move quickly for large-scale critical minerals capital, according to Reuters.
Innovation, Science and Economic Development Minister Mélanie Joly approved Anglo American’s all‑share takeover of Teck under the Investment Canada Act, removing a major regulatory barrier to creating a global copper heavyweight.
Joly said the deal benefits Canada; her office did not answer follow‑up questions.
The timeline stands out against Ottawa’s previous approach.
As reported by Reuters, Canada took about eight months in 2024 to approve Glencore’s US$7bn purchase of Teck’s steelmaking coal unit and attached strict job‑protection conditions.
Joly’s predecessor had said Canada would only approve critical minerals deals in “exceptional circumstances,” but that stance has softened as the government grapples with tariff‑driven economic pressure from the United States.
Anglo‑Teck agreed to commitments that include investing $4.5bn in Canada within five years.
CTV News reported that the merged company plans to spend $10bn over 15 years on key operations such as the Highland Valley Copper Mine near Logan Lake and other critical minerals projects across British Columbia.
The BC Ministry of Mining and Critical Minerals said the transaction will make Anglo Teck the largest company in the province’s history and reinforce confidence in its regulatory and labour environment.
Industry leaders quoted by CTV News expect the merger to entrench Vancouver as a global mining hub, with the city becoming headquarters for one of the world’s largest critical minerals and top copper producers.
Business groups are also forecasting thousands of jobs and wider economic benefits across the province.
Resistance has not disappeared.
Reuters cited an Ipsos poll showing most Canadians believe Ottawa should prevent foreign buyers from taking over domestic natural resources companies.
CTV News reported that environmental advocate Nikki Skuce of Northern Confluence warned that “companies’ dedication to social and environmental responsibility is important” and pointed to Anglo’s “liabilities” linked to operations in South Africa and Latin America.
