By: Finimize

Teck Resources and Anglo American have secured overwhelming shareholder approval for their $23 billion merger, clearing a key step toward forming a new global mining giant to be named "Anglo Teck plc." The deal must still overcome significant regulatory hurdles, including reviews by Canadian and international competition authorities and approval from the Supreme Court of British Columbia.

The merger has drawn criticism in South Africa, where concerns center on the perception that the deal prioritizes Canadian interests over Anglo American's long-standing local presence, raising the possibility of government intervention. Despite these challenges, Teck's share price rose after the shareholder vote, reflecting market optimism about the combined company’s potential strength in metals like copper and zinc.

If finalized, the merger would create a leading diversified miner with considerable influence over global supply chains, potentially driving further industry consolidation and operational efficiencies. South Africa’s scrutiny of the deal also highlights a growing trend of resource nationalism, where nations are increasingly cautious about foreign control of strategic assets—a dynamic that could shape future cross-border mergers well beyond the mining sector.