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
Events & AwardsOct 17, 2025
An Edit of Italian Jewels Is Coming to NYCThe new showcase dedicated to Italian jewelry design is set for Oct. 29-30.
TrendsOct 17, 2025
Piece of the Week: Judi Powers Jewelry’s ‘Stella’ EarringsTake a gaze at the sky with this pair of platinum diamond-set star earrings with blue lace agate drops.
IndependentsOct 17, 2025
From the Jazz Age to the Information Age: London Jewelers Turns 100In 2026, the jewelry retailer will celebrate a milestone only a small percentage of family-owned businesses survive to see.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
IndependentsOct 16, 2025
Retailer Hall of Fame 2025: Jeffrey Zimmer Jeffrey Zimmer's decades of leadership at Reeds Jewelers are defined by integrity, a love of sourcing gemstones, and a heart for community.
Weekly QuizOct 16, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsOct 16, 2025
Sotheby’s Introduces Custom Jewelry ServiceThe new high jewelry design and production process takes 30 days or less from concept to completion, the auction house said.
MajorsOct 16, 2025
Oscar Heyman’s Holiday Catalog Is Out, and It’s SpectacularThe holiday catalog for 2025 features never-before-seen images of more than 100 one-of-a-kind masterpieces.
Brought to you by
JA New York Fall Is Right Around the CornerThe upcoming show provides savvy retailers with the opportunity to stock their cases with best sellers in advance of the holiday season.
CollectionsOct 16, 2025
Foundrae Adds To ‘United in Love’ CollectionThe brand has released a second installment of its collection of traditional and non-traditional commitment heirlooms.
IndependentsOct 15, 2025
Retailer Hall of Fame 2025: Kathy CoreyCorey rescued New England chain Day’s Jewelers, preserving its legacy with strong people skills, pragmatism, and a “get-it-done” attitude.
CrimeOct 15, 2025
Men Receive Lengthy Prison Sentences for 2023 Murder of Colorado JewelerCharles Robinson Shay was sentenced to life in prison plus 120 years while his accomplice, Michael James McCormack, got 75 years.
Events & AwardsOct 15, 2025
‘Douriean Fletcher: Jewelry of the Afrofuture’ Opens at MADThe Museum of Arts and Design's new exhibition features 75 pieces by the designer, best known for her work in the “Black Panther” films.
Events & AwardsOct 15, 2025
JCK, Luxury to Debut New Watch Section in Vegas Next YearTimepieces at Luxury will take place at The Venetian and, like Luxury, will be invitation-only for the first two days.
AuctionsOct 15, 2025
Christie's Announces New Jewelry Department LeadershipThe auction house named a new global head of jewelry, as well as a new head of the jewelry department for the Americas.
IndependentsOct 14, 2025
Retailer Hall of Fame 2025: Tom DixonAs chairman of Schwanke-Kasten Jewelers, Tom Dixon has been tasked with honoring the past and shaping the future of the family-run store.
Events & AwardsOct 14, 2025
Here Are the Winners of the BIJC, JA ‘Emerging Jewelers’ Grant Katty Villapando Lyte and Mica Rencher received a $10,000 grant for their business, Shimmer Culture LLC.
IndependentsOct 14, 2025
Day’s Jewelers Crafts Custom Jewelry for No.1 NBA Draft Pick Cooper FlaggThe parents of the Dallas Mavericks rookie bought their engagement ring at a Day’s store in Bangor, Maine, in 1997.
CollectionsOct 10, 2025
Count Down to the Holidays With Astrid & Miyu’s Advent CalendarsThe trio of Advent calendars include a version with 18-karat gold and lab-grown diamond jewelry in a red lacquer jewelry box.
CollectionsOct 10, 2025
Piece of the Week: Marla Aaron’s ‘Nymphenburg Lock’Created in collaboration with Nymphenburg Porcelain, the lock is part of a four-piece collection that took two years to bring to fruition.
MajorsOct 10, 2025
Frederick Goldman Names New VP of SalesJewelry industry veteran Alisa Bunger has taken on the role.
AuctionsOct 09, 2025
This Fabergé Egg Could Crack $27M At Auction“The Winter Egg” set the world auction record for a Fabergé piece twice at previous Christie’s sales.
MajorsOct 09, 2025
Sy Kessler Buying Watch Batteries as Silver Hits Record High The company will pay 1.5x silver’s current spot price for each pound of silver oxide batteries submitted.
CollectionsOct 09, 2025
Katkim Launches First Men’s CollectionThe line includes a “Shadow” series crafted exclusively for the new men’s offering and reimagined styles from the brand’s core collections.
SourcingOct 09, 2025
Gemfields’ Mini Mixed-Quality Ruby Auction Garners $11MThe rough on offer was recovered from a newer area at the Montepuez mine.
SourcingOct 08, 2025
In ‘Storied Diamond,’ Jared Jewelers Is Emphasizing the Journey The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.
CollectionsOct 08, 2025
Emily P. Wheeler Shifts Into Neutral for Latest ‘Ombré’ CollectionThe champagne colorway in her newest “Ombré” collection combines white and trendy brown diamonds, a departure from her usual vibrant hues.
CollectionsOct 08, 2025
Tsuba Designs Inspire Monica Rich Kosann’s New CharmsKosann partnered with the Museum of Fine Arts, Boston, to create a set of necklaces inspired by the artwork on samurai sword handguards.
