Teck agrees to massive $70B merger ahead of B.C.'s biggest critical

A blockbuster $70 billion merger between B.C.’s Teck Resources and rival Anglo American is being heralded for creating a mining giant capable of injecting new resources into some of the province’s largest critical-mineral developments.

The deal was announced Tuesday just as Teck was about to embark on its $2.1 billion-to-$2.4 billion extension of the Highland Valley mine, which itself was touted as the biggest-ever critical-minerals investment in the province at what is Canada’s largest copper mine.

The combined company is to be named Anglo Teck, which executives said will put its global headquarters in Vancouver, and relocate several functions from Anglo American’s London headquarters.

The new company’s executives promised to invest $4.5 billion in Canada, including the Highland Valley