Anglo American to merge with rival Teck in $53bn mining group
by Lauren Almeida and Jillian Ambrose from on (#6ZWZ9)
Two of world's largest copper producers to combine, retaining London listing but raising prospect of job cuts
The London-listed miner Anglo American has agreed to merge with its Canadian rival Teck Resources, in a deal that will create a $53bn (39bn) global copper group after both companies saw off takeover attempts.
The merger to form one of the biggest copper producers in the world is expected to bring hundreds of job losses at Anglo's London office as the company prepares to move its headquarters to Vancouver, Canada.
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