Archive · 8 Oct 2026
Anglo-Teck Deal Tests Miners’ Navigation of Geopolitical Complexities
Anglo American wants to combine with Teck Resources in a deal worth $54 billion.
Most countries where the companies operate have approved it, but China has not yet done so.
China’s regulator has reportedly asked Anglo American to promise steady copper supplies.
Anglo American is also waiting for EU approval to sell its Brazilian nickel business to MMG.
The EU has raised concerns that nickel could be diverted away from European producers.
CEO Duncan Wanblad says companies are dealing with new and complicated rules around these deals.
Anglo American is also selling other businesses as it refocuses on copper and iron ore.
Wanblad hopes the sale of De Beers will be completed by the end of the year.
Anglo American’s proposed $54 billion merger with Teck Resources is awaiting Chinese antitrust approval.
The companies expect the merger to close by March 2027; approvals have been received everywhere they operate except China.
China’s antitrust regulator has reportedly asked Anglo American to commit to steady copper-concentrate supplies as a condition of approval.
Anglo American’s proposed sale of its Brazilian nickel business to MMG is awaiting EU approval after the bloc raised concerns about supply to European producers.
CEO Duncan Wanblad said the transactions are tests of a more complex regulatory environment and said he hopes the De Beers sale will close by year-end.
- Who
- Anglo American, Teck Resources, and Anglo American CEO Duncan Wanblad.
- What
- The proposed $54 billion Anglo-Teck merger and Anglo American’s proposed sale of its Brazilian nickel business are awaiting regulatory approvals.
- When
- The merger was announced in 2025; the companies expect it to close by March 2027. Wanblad said he hopes the De Beers sale will close by year-end.
- Where
- The merger requires approval in China; the nickel-business sale is awaiting approval from the European Union. Wanblad spoke to a mining conference in Johannesburg.
- Why
- The transactions are part of Anglo American’s restructuring to focus on copper and iron ore, amid growing geopolitical and supply-chain concerns around critical minerals.
Company’s view
Regulatory concerns
Anglo-Teck merger
Company’s view
Duncan Wanblad said he did not believe the deals should raise antitrust issues and described them as tests of how companies navigate a new regulatory environment.
Regulatory concerns
China’s antitrust regulator has reportedly asked Anglo American to guarantee steady copper-concentrate supplies as a condition for approving the merger.
Brazilian nickel sale
Company’s view
Anglo American has proposed selling its Brazilian nickel business to MMG.
Regulatory concerns
The European Union warned that the Hong Kong-listed buyer could divert supply away from Europe, harming stainless steel producers there.
- Proposed merger value
- $54 billion
- Merger status
- Approved in all countries where the companies operate except China
- Expected merger closing
- By March 2027
- Reported Chinese request
- A commitment to provide a steady flow of copper concentrate
- Brazilian nickel sale
- Proposed sale to MMG; awaiting EU approval
- Australian steelmaking coal sale
- Agreed sale to Dhilmar for up to $3.88 billion
- Anglo American’s restructuring focus
- Copper and iron ore