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Carney’s Condition: Anglo American Must Shift HQ to Canada for Teck Merger Green Light
Canadian Prime Minister Mark Carney has reportedly told Anglo American that relocating its global headquarters to Canada was a non‑negotiable condition for approving its proposed $53‑billion merger with Vancouver‑based Teck Resources.
According to sources cited by The Globe and Mail, Carney made it clear that any prospective buyer of Teck would need to meet this requirement. The London‑based mining giant and Teck announced last week that the combined entity — to be called Anglo Teck — would be headquartered in Canada, with a primary stock listing in London.
Anglo American CEO Duncan Wanblad has said Vancouver is the “natural location” for the merged company, given its extensive operations in the Americas and its long‑standing exploration presence in the city. Neither Carney’s office nor Teck commented on the reported ultimatum, while Anglo American declined to address the specifics of the discussions.
The move underscores Canada’s push to retain strategic control over critical mineral assets, as the Teck deal would mark one of the largest mining mergers in history.
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