Copper-bottomed merger will create mining giant

HARGREAVES LANSDOWN

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ANGLO AMERICAN and Canada’s Teck Resources have agreed to join forces. On completion, it promises to be the largest transaction the mining industry has seen in a decade. Following significant efforts to rebalance the portfolio, this step continues Anglo's shift towards copper.

The combined group is set to become the world’s secondlargest publicly listed producer. Copper has an impressive track record of demand growth. Trends such as electrification and the build-out of artificial intelligence infrastructure could see that accelerate.

But many of the world’s richest ore bodies have already been mined. That raises questions about whether supply can keep pace.