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.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
MajorsFeb 13, 2026
JFC Announces New BeneficiariesThe nonprofit has welcomed four new grantees for 2026.
Weekly QuizFeb 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsFeb 12, 2026
These 8 Saks Fifth Avenue Stores Are ClosingParent company Saks Global is also closing nearly all Saks Off 5th locations, a Neiman Marcus store, and 14 personal styling suites.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
Events & AwardsFeb 12, 2026
Kering Opens Entries for 2026 Sustainability-Focused AwardThe “Kering Generation Award x Jewelry” returns for its second year with “Second Chance, First Choice” as its theme.
TrendsFeb 11, 2026
Halle Berry’s Retro Engagement Ring Is a Sapphire-Set StunnerSourced by For Future Reference Vintage, the yellow gold ring has a round center stone surrounded by step-cut sapphires.
MajorsFeb 11, 2026
Francesca’s Files for Chapter 11 Bankruptcy AgainThe clothing and accessories chain announced last month it would be closing all of its stores.
CollectionsFeb 11, 2026
Zales Turns Sweethearts Into Jewelry for Valentine’s Day CollectionThe “Zales x Sweethearts” collection features three mystery heart charms engraved with classic sayings seen on the Valentine’s Day candies.
TechnologyFeb 11, 2026
Gemvision Symposium 2026 Slated for AprilThe event will include panel discussions, hands-on demonstrations of new digital manufacturing tools, and a jewelry design contest.
Events & AwardsFeb 11, 2026
TJS Announces Roundtable, Launches New AppRegistration is now open for The Jewelry Symposium, set to take place in Detroit from May 16-19.
TrendsFeb 10, 2026
Bad Bunny Wears Football-Shaped ‘Desert Diamond’ for Halftime PerformanceLady Gaga, Cardi B, and Karol G also went with diamond jewelry for Bad Bunny’s Super Bowl halftime show honoring Puerto Rico.
SurveysFeb 10, 2026
Shoppers to Spend Big on Jewelry This Valentine’s Day, Says NRFJewelry is expected to be the No. 1 gift this year in terms of dollars spent.
FinancialsFeb 10, 2026
Kering Plans Transformation as 2025 Sales Sink 13%As star brand Gucci continues to struggle, the luxury titan plans to announce a new roadmap to return to growth.
SourcingFeb 10, 2026
AGTA To Debut ‘Stuller Color of the Year’ Spectrum Awards CategoryThe new category asks entrants for “exceptional” interpretations of the supplier’s 2026 color of the year, which is “Signature Red.”
Policies & IssuesFeb 09, 2026
U.S., India Trade Deal One Step Closer to Being FinalizedThe White House issued an official statement on the deal, which will eliminate tariffs on loose natural diamonds and gemstones from India.
Events & AwardsFeb 09, 2026
JA Now Accepting Entries for 2026 CASE AwardsEntries for the jewelry design competition will be accepted through March 20.
IndependentsFeb 09, 2026
James Free Jewelers Unveils Revamped FlagshipThe Ohio jeweler’s new layout features a curated collection of brand boutiques to promote storytelling and host in-store events.
TrendsFeb 09, 2026
These 14 Jewels Will Melt Your Heart This Valentine’s DayFrom heart motifs to pink pearls, Valentine’s Day is filled with jewelry imbued with love.
CrimeFeb 06, 2026
Florida Man Sentenced After Selling Fake Native American Jewelry for a Decade Prosecutors say the man attended arts and craft fairs claiming he was a third-generation jeweler who was a member of the Pueblo tribe.
FinancialsFeb 06, 2026
Pandora’s North America GM Departs Amid Executive ChangesNew CEO Berta de Pablos-Barbier shared her priorities for the Danish jewelry company this year as part of its fourth-quarter results.
TrendsFeb 06, 2026
Margot Robbie, Jacob Elordi Wear Matching Cece Jewellery Signet RingsOur Piece of the Week picks are these bespoke rings the “Wuthering Heights” stars have been spotted wearing during the film’s press tour.
MajorsFeb 05, 2026
Pandora to Begin Selling Platinum-Plated JewelryThe introduction of platinum plating will reduce its reliance on silver amid volatile price swings, said Pandora.
SourcingFeb 05, 2026
De Beers Lowers Production Guidance for 2026, Anglo Mulls Another WritedownIt would be the third impairment charge in three years on De Beers Group, which continues to grapple with a “challenging” diamond market.
