The Canadian government has formally approved the high-profile merger between Britain’s Anglo American and Canada’s Teck Resources to create a new global mining leader focused on critical minerals and copper production. Federal Industry Minister Mélanie Joly determined that the deal will provide a net benefit to Canada’s economy, moving the plan forward under the country’s foreign investment review process. Approval comes after both sets of shareholders overwhelmingly backed the combination in recent votes, clearing a major regulatory requirement for the transaction to proceed.

The merged entity — to be known as Anglo Teck — is expected to establish its global headquarters in Vancouver, reinforcing Canada’s role in the global mining sector. As part of the approval, the companies have committed to investing significant capital within the country. Initial agreements call for at least C$4.5 billion in Canadian spending over the next five years, with plans to broaden that to a minimum of C$10 billion over 15 years to support projects like mine life extensions, critical minerals processing upgrades, and new copper developments.

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Officials and industry supporters describe the decision as a sign of Canada’s intent to attract foreign investment and strengthen its competitive position in critical mineral markets. The rapid regulatory clearance — much quicker than is typical for a transaction of this scale — reflects a shift toward more business-friendly policies, with economic growth and capital inflows prioritized amid global trade pressures and tariff challenges.

The merger remains subject to customary closing conditions, including further regulatory reviews in other jurisdictions. Nonetheless, the approval marks a significant milestone in forming one of the world’s top producers of copper and other strategic resources. The expanded company is expected to support thousands of jobs in Canada and play a key role in supplying materials essential for electric vehicles, renewable energy infrastructure, and broader technological applications.

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Overall, the Anglo-Teck deal is being framed as a major development for Canada’s mining industry, leveraging international capital to bolster domestic investment and positioning the country as a central hub in the global critical minerals supply chain.