Vancouver-Based Teck Resources and Anglo American Announce $70 Billion Tie-Up

In what’s shaping up to be the world’s biggest mining deal of the past decade, Teck Resources Ltd. has agreed to a tie-up with London-headquartered Anglo American PLC to create a copper-focused giant worth about $70 billion.

The companies have proposed the deal as a “merger of equals,” even though Anglo American is worth more than double Teck, as plans include sourcing upper management and board representation roughly equally between the two.