TECK Resources CEO Jonathan Price has described plans to headquarter the merged Anglo American-Teck company in Canada as “a perpetual commitment” following the UK miner’s acquisition of the Canadian firm.
“The commitment that we are making to Canada and the presence of the global headquarters of Anglo Tech in Canada is an enduring commitment,” Price told BNN Bloomberg Television on Wednesday.
The agreement by UK-based Anglo American to acquire Canada’s Teck Resources represents one of the biggest mining deals in over a decade, though it requires regulatory approval in multiple countries including Canada. Last year, Canada stated it would only approve foreign takeovers of large mining companies involved in critical-minerals production “in the most exceptional of circumstances.”
Price emphasised that establishing the global headquarters in Vancouver, with most senior executives present, “is a great thing for the country.”
When questioned whether setbacks at Teck’s copper mine in Chile had driven the transaction, Price expressed confidence the company would “overcome those challenges.” He explained the timing by saying such opportunities “don’t come along very often” and “when you see them, you have to seize them.”
If approved by regulators, the acquisition is expected to complete within 12 to 18 months. The companies are currently engaging with investors worldwide, explaining the “incredible upside” and gathering feedback. Price noted that whilst these conversations remain preliminary, there is “real recognition for the industrial logic” and “the quality of the business we are creating.”
