Anglo American to combine with Teck in $53bn merger

The London-listed miner Anglo American has agreed to merge with its Canadian rival Teck Resources in a deal that will create a $53bn (£39bn) global copper group after both companies saw off takeover attempts.

- Lauren Almeida Jillian Ambrose

The merger to form one of the largest copper producers in the world is expected to bring hundreds of job losses at Anglo's London office as the company prepares to move its headquarters to Vancouver, Canada.

The new company will retain Anglo's primary listing on the London Stock Exchange with secondary listings in Johannesburg, Vancouver and New York. But Anglo Teck's senior leadership team will be based in Vancouver after sweeping efforts by the Canadian government to protect the country's minerals sector.