Anglo, Teck Win Canada’s Approval to Form $50 Billion Miner (3)

The Canadian government has approved Anglo American Plc’s acquisition of Teck Resources Ltd., helping to clear the way for the creation of a $50 billion metals giant focused on copper mines in Chile and Peru.

The approval under the Investment Canada Act formalizes commitments made by the miners in September and comes within a week of both firms’ shareholders giving their consent to the deal.

“The government of Canada’s approval is an important step forward in the formation of Anglo Teck, a new global critical minerals champion headquartered in Canada,” Teck Chief Executive Officer Jonathan Price said in a ...