Anglo American agrees mining mega merger; Londoners face commuting struggles as tube strike enters second day – business live

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

Matt Britzman, senior equity analyst at Hargreaves Lansdown, said:

Anglo American’s merger with Teck Resources is its latest strategic pivot that cements copper at the heart of its portfolio. With over 70% copper exposure and a top-five global position, the combined group is positioned to ride the structural demand story tied to electrification and energy transition.

The $800m in annual cost synergies and $1.4bn EBITDA uplift from Chilean asset integration are compelling. But the real prize is growth optionality, leveraging a pipeline of brownfield and greenfield projects across the Americas. For Anglo investors, the $4.5bn special dividend sweetens the near-term picture, while the long-term upside hinges on execution and a green light from the regulator. Back-of-the-hand maths suggests Teck holders are getting a healthy premium from the deal, and shares of the Canadian miner have soared in after-hours trading.