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
Events & AwardsAug 17, 2026
Exhibition on Louis Comfort Tiffany’s Studios to Open at The MetThe exhibition will feature more than 100 drawings of stained-glass lampshades, windows, and more, many created by women and émigrés.
CollectionsAug 17, 2026
Marquise Diamonds Dance in Spinelli Kilcollin’s ‘Wren’ CollectionMarquise-cut diamonds in drop charms are the center of the new collection, reflecting the movement of a dancer in modular styles.
Events & AwardsAug 17, 2026
There’s a New Jewelry Show Coming to FloridaThe inaugural Fort Lauderdale Jewelry, Antique, & Object Show will be held from Jan. 28 through Feb. 1, 2027.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
IndependentsAug 14, 2026
Smyth Jewelers to Open Fourth LocationThe family-owned jeweler will open a new showroom in Bel Air, Maryland, this fall.
Weekly QuizAug 13, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeAug 14, 2026
Wife of Man Convicted in Jeweler’s Murder Sentenced for Conspiracy Amanda Ileana Hernandez is married to Carlos Hernandez, one of two men in prison for the 2024 murder of Michigan jeweler Hussein Murray.
TrendsAug 14, 2026
Paul Morelli’s Latest ‘Wavey Vine’ Earrings Embrace ColorThe reimagined jewel, our Piece of the Week, trades the diamonds in the original 1998 design for blue, pink, yellow, and green sapphires.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
Supplier BulletinAug 13, 2026
Your Piece Could Be the One Editors Talk AboutSponsored by American Gem Trade Association
FinancialsAug 13, 2026
Pandora’s ‘Talisman’ Collection Shines, Lab-Grown Diamond Sales FallIn the United States, second-quarter sales were flat amid soft consumer sentiment and lower in-store traffic.
AuctionsAug 13, 2026
This Gold Cadbury ‘Conundrum’ Egg Set a World Auction RecordThe 22-karat gold egg, sold at Batemans Auctioneers in the U.K., was part of a 1980s treasure hunt ad campaign for Cadbury Creme Eggs.
CollectionsAug 13, 2026
John Hardy Infuses ‘Icon,’ ‘Heishi’ Collections with ColorThe expanded collections now feature hand-cut gemstones like topaz, tanzanite, chrysoprase, chalcedony, smoky quartz, and fire opal.
Lab-GrownAug 13, 2026
Jean Dousset Opens Third StoreThe lab-grown diamond jewelry brand’s newest boutique is in Westfield Valley Fair in Santa Clara, California.
CrimeAug 12, 2026
Elderly NYC Woman Targeted in Jewelry Swap SchemeTwo suspects offered to trade the woman a “winning” lottery ticket for her jewelry.
SourcingAug 12, 2026
Another Diamond Mine Poised to CloseFinsch has been in business rescue since May, and owner Petra Diamonds said it sees no viable path forward for the mine.
CrimeAug 12, 2026
Jewelry Store Employee Gets 20 Years to Life in Choking Death of BossMichel Patrick DeSalles was sentenced after pleading guilty to the 2017 murder of Omid Gholian, who owned a jewelry store in Manhattan.
MajorsAug 12, 2026
Frederick Goldman Names New SVP of SalesLongtime industry executive Beth Miller has taken on the role.
AuctionsAug 11, 2026
Verdura Unicorn Brooch With Royal Connection Up for Auction The brooch was owned by Virginia Fortune Ryan Ogilvy, who served as a lady of the bedchamber to Queen Elizabeth II for nearly 50 years.
MajorsAug 11, 2026
Signet Jewelers Selects Mattel Exec to Lead Zales, BanterJamie Cygielman will take on the role on Aug. 24.
IndependentsAug 11, 2026
Polly’s Fine Jewelry Co-Owner Richard Moore Dies at 69Moore, Polly’s husband, is remembered as a family man with an easygoing spirit and a love for sports and the outdoors.
ColumnistsAug 11, 2026
Creative Connecting: How to Sell Colored Gemstones to Gen ZDuvall O’Steen and Jen Cullen Williams share the best ways to display, present, and explain colored gemstones to younger customers.
Events & AwardsAug 11, 2026
NAJA Announces Lineup For 2026 Fall Virtual ConferenceThe mid-year conference for jewelry and watch appraisers will take place Sept. 5-6 on Zoom.
TechnologyAug 10, 2026
Colorado Jeweler Launches Customization Tool He Built HimselfHonest Hands Ring Co. Founder Benjamin Bosworth shared his thoughts on jewelry technology and why AI can never replace the human element.
MajorsAug 10, 2026
QVC Exits Chapter 11 Bankruptcy, Names New Interim CEOQVC Group President and CEO David Rawlinson is temporarily being replaced by a familiar face, former QVC CEO Mike George.
CollectionsAug 10, 2026
State Property Puts a Ripple in the ‘The Voyager’ CollectionThe brand also added two one-of-a-kind brown diamond pieces to the “Sanssouci” series of its “Gardens” collection.
MajorsAug 10, 2026
And IJO’s 2026 Vendor of the Year Is … Ostbye took home top vendor honors at the Independent Jewelers Organization’s show, held last month in Kentucky.
Supplier BulletinAug 07, 2026
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsSponsored by Stratus Estate Buyers
