SourcingSep 03, 2025
Gemfields Confirms Completion of Fabergé SaleSourcingSep 09, 2025
Anglo American to Merge With Canadian Copper Miner
Anglo plans to merge with Teck Resources Ltd. to form Anglo Teck. The deal changes nothing about its plans to offload De Beers.
Anglo American’s Quellaveco copper mine in Peru, which transitioned to using 100 percent renewable energy in April 2023. On Tuesday, Anglo announced its intention to merge with Canadian miner Teck Resources Ltd., a merger that would create the second-largest publicly listed copper mining company in the world. (Photo courtesy of Anglo American)
London—De Beers’ parent company Anglo American announced Tuesday that it is merging with Teck Resources Ltd., a Canadian company with copper and zinc mines in the United States, Canada, Chile, and Peru.
The new $50 billion company, called Anglo Teck, will be the second-largest listed producer of copper in the world.
Copper is in high demand right now because of the mineral’s use in renewable energy solutions, like wind turbines, solar panels, and electric and hydrogen fuel cell vehicles.
Anglo Teck also will be a major producer of iron ore via mines in South Africa and Brazil—iron ore is used in “green” steel production—and will operate the Red Dog zinc mine in Alaska and the zinc and lead smelting and refining facilities at Trail Operations in British Columbia.
As part of the deal, Anglo American will relocate its headquarters from London to Vancouver, Canada, where Teck is based.
Anglo American Chief Executive Duncan Wanblad will serve as CEO of Anglo Teck, while Teck’s President and CEO Jonathan Price will be deputy CEO.
Related stories will be right here …
The new $50 billion company, called Anglo Teck, will be the second-largest listed producer of copper in the world.
Copper is in high demand right now because of the mineral’s use in renewable energy solutions, like wind turbines, solar panels, and electric and hydrogen fuel cell vehicles.
Anglo Teck also will be a major producer of iron ore via mines in South Africa and Brazil—iron ore is used in “green” steel production—and will operate the Red Dog zinc mine in Alaska and the zinc and lead smelting and refining facilities at Trail Operations in British Columbia.
As part of the deal, Anglo American will relocate its headquarters from London to Vancouver, Canada, where Teck is based.
Anglo American Chief Executive Duncan Wanblad will serve as CEO of Anglo Teck, while Teck’s President and CEO Jonathan Price will be deputy CEO.
While the merger of the companies is a major development in the mining world, it changes nothing about Anglo American’s position on De Beers Group.
In Tuesday’s announcement of the merger, the company said it is still committed to its “portfolio simplification,” which includes offloading De Beers.
Anglo American publicly confirmed it was looking to sell De Beers, as well as its steelmaking coal, nickel, and platinum businesses, in May 2024, as part of a broader strategy to downsize its portfolio and focus on mining minerals that will be used in “green” energy solutions.
The downsizing followed a failed takeover attempt by rival BHP Group.
Anglo American fully exited the platinum business last week when it sold its remaining stake in Valterra Platinum (formerly Anglo American Platinum), which operates in South Africa and Zimbabwe.
De Beers has proved to be a tougher sell in the current market, though CEO Al Cook told National Jeweler in May that he expects the deal to be finalized in the first half of 2026.
In Tuesday’s announcement of the merger, Anglo American head Wanblad said the company has made “significant” progress in downsizing its portfolio and that now is the “optimal” time to take the next step.
“We have a unique opportunity to bring together two highly regarded mining companies whose portfolios and capabilities are deeply complementary, while also sharing a common set of values,” he said.
“Together, we are propelling Anglo Teck to the forefront of our industry in terms of value accretive growth in responsibly produced critical minerals.”
The merger of Anglo American and Teck Resources is taking place under the Canada Business Corporations Act and is subject to certain closing conditions, including the approval of both Anglo American and Teck shareholders.
The deal is expected to close in 12-18 months.
More on Sourcing
The Latest
EditorsDec 31, 2025
The Top 5 Stories of 2025Articles about crime, engagement rings, and a necklace worn in the World Series generated the most interest among readers.
MajorsDec 30, 2025
Becka Johnson Kibby to Lead Edge Retail AcademyAs part of the leadership transition, Sherry Smith will take on the role of vice president of coaching strategy and development.
WatchesDec 30, 2025
Bulova, Stetson Collab on Watches With Western FlairThe new Bulova x Stetson designs highlight two animals often associated with the American West—the bison and the Texas Longhorn.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
CollectionsDec 30, 2025
Rahaminov Diamonds Pops Up in FloridaIts residency at Yamron Jewelers will run through May 2026.
Weekly QuizDec 23, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsDec 29, 2025
In Memoriam: Industry Friends We Lost in 2025From influential executives to innovative designers, we pay tribute to the people we said goodbye to this year.
MajorsDec 29, 2025
Tanishq Opens New Stores in Florida, VirginiaThe retailer is expanding into areas with large Indian and South Asian populations.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
MajorsDec 29, 2025
Nanis Opens First Flagship Store The Italian brand has opened its first flagship amid the peaks of the Dolomites in Madonna di Campiglio, Italy.
CrimeDec 24, 2025
LA Jewelry District Couple Pleads Guilty to Hiding Millions from IRSThe couple pleaded guilty to concealing at least $127 million in cash transactions at its precious metals businesses.
SurveysDec 24, 2025
Consumer Confidence Falls Again in DecemberConsumers shared concerns about prices, inflation, tariffs, trade, and politics in the survey’s write-in response section.
AuctionsDec 24, 2025
Bonhams to Open New U.S. Flagship in NYCIn February 2026, the auction house will move its headquarters to the former Steinway Hall, a neoclassical landmark on Billionaires’ Row.
Events & AwardsDec 24, 2025
NYC Jewelry, Antique, & Object Show Announces Winter EventThe new show will take place Jan. 23-25, 2026.
SourcingDec 23, 2025
Mining Titan Brian Gilbertson Dies at 82The former BHP Billiton leader and Gemfields chairman is remembered for his influential leadership throughout his 50-year mining career.
Events & AwardsDec 23, 2025
Bulgari Reimagines Costume Designers Guild AwardThe LVMH-owned brand has partnered with the costume design union to revamp its award for 2026.
MajorsDec 23, 2025
Kering to Acquire Stake in Raselli Franco GroupThe luxury titan inked a deal to acquire an initial minority stake in the jewelry manufacturer with a pathway to full ownership by 2032.
MajorsDec 23, 2025
For Future Reference Vintage Enters Bloomingdale’sThe company’s curation of unsigned vintage and estate jewelry debuted at the Bloomingdale’s in Costa Mesa, California.
CrimeDec 22, 2025
Customs Seizes Hundreds of Fake Rolex, Cartier WatchesIn the recent multi-shipment seizure, CBP also found counterfeit Audemars Piguet, Moncler, and Chrome Hearts items.
EditorsDec 22, 2025
How Helzberg Is Reimagining Its StoresHelzberg’s Chief Retail Officer Mitch Maggart shared details about its tests of a new store concept rooted in an elevated luxury experience.
Recorded WebinarsDec 22, 2025
2025 Jewelry Rewind: Looking Back on an Eventful Year Jewelers of America execs and National Jeweler editors discuss tariffs, the sky-high gold price, and the engagement that broke the internet.
MajorsDec 19, 2025
MadaLuxe Group Acquires Ippolita The luxury goods company said founder Ippolita Rostagno will remain at the brand’s helm.
MajorsDec 19, 2025
LVMH Names New Bulgari CEOLaura Burdese, who joined the Italian luxury brand in 2022, will take on the role in July.
EditorsDec 19, 2025
2025 Jewelry Superlatives: A Yearbook-Style Year in Review The National Jeweler editors revisit the most noteworthy industry happenings and design trends from 2025.
AuctionsDec 19, 2025
Jean Schlumberger’s ‘African Cat’ Is Purr-Fection Need a gift for the cat lover who has everything? Look no further than our latest Piece of the Week.
AuctionsDec 18, 2025
Audemars Piguet Reclaims Historic Pocket Watch at AuctionIt purchased the “Grosse Pièce,” an ultra-complicated Audemars Piguet pocket watch from the ‘20s, for a record-breaking price at Sotheby’s.
Lab-GrownDec 18, 2025
Kira Jewels Debuts Custom Lab-Grown Diamond Jewelry ServiceThe lab-grown diamond grower now offers custom engagement and fashion jewelry through its Kira Custom Lab Jewelry service.
EditorsDec 18, 2025
Terry Chandler Looks Back on 40 Years of Opportunity, Change, and FriendsChandler got his start at Michelson Jewelers and has served as DCA president and CEO since 2001. He will retire at the end of the month.
