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Finance

Anglo Teck agreement binds assets of 'extraordinary value', says head of Chile's Codelco

Published by Global Banking and Finance Review

Posted on September 9, 2025

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SANTIAGO (Reuters) -The agreement between Anglo American and Teck brings together assets of "extraordinary value," the chairman of Chile's state-run copper producer Codelco, Maximo Pacheco, told Reuters on Tuesday.

London-listed miner Anglo American and Canada's Teck Resources announced their merger earlier on Tuesday, in what would be the biggest mining sector M&A deal in over a decade.

Codelco is Teck's partner in Quebrada Blanca and Anglo American Sur.

Anglo American and Teck operate adjacent copper mines in Chile - Quebrada Blanca and Collahuasi - which are expected to deliver them operational benefits.

Pacheco said that Chile is consolidating with this agreement a global strategic leadership in copper.

(Reporting by Fabian Cambero; Editing by Louise Heavens)