Core Viewpoint - Teck Resources Limited is highlighted as a strong investment opportunity, with Scotiabank raising its price target to C$70 due to robust liquidity and performance in the Zinc segment [1][3]. Financial Performance - For Q2 2025, Teck Resources reported maintaining $8.9 billion in liquidity, which includes $4.8 billion in cash [1]. - The company returned $487 million in share buybacks and $61 million in base dividends during the quarter, totaling over $1.1 billion returned year-to-date [2]. Segment Performance - The Zinc segment showed significant growth, with gross profit before depreciation and amortization increasing by 137% to $159 million [3]. - Net cash unit costs for Zinc improved to $0.49 per pound [3]. - Challenges were noted at the QB operation due to ongoing Tailings Management Facility development, which has limited mill online time and revised production outlook [3]. Company Overview - Teck Resources Limited engages in the research, exploration, development, processing, smelting, refining, and reclamation of mineral properties across Asia, the Americas, and Europe, operating primarily through Copper and Zinc segments [4].

Core Viewpoint - An Indigenous group in Canada is planning to challenge the merger between Teck Resources Ltd. and Anglo American Plc unless there is proper consultation regarding expansion plans for a smelter in southern British Columbia [1][5]. Group 1: Indigenous Group's Position - The Osoyoos Indian Band claims that Teck has not engaged meaningfully with them regarding the proposed merger and investments in the Trail operations, which are located on their lands [2][3]. - Chief Clarence Louie stated that the Indigenous group has faced significant negative impacts without any benefits and criticized the companies for planning expansions without consulting First Nations [3][5]. - The Chief emphasized the need for discussions on environmental, cultural issues, and potential job and revenue sharing related to the Trail operations [6]. Group 2: Merger Details - Teck and Anglo American's merger is expected to create a mining giant valued at over $50 billion, with plans to invest up to C$750 million (approximately $544 million) in the Trail operations [3]. - The companies have committed to investing C$4.5 billion in Canada if the merger is approved and relocating their joint headquarters to Vancouver [4]. Group 3: Regulatory Environment - The Canadian government has the authority to block the merger under the Investment Canada Act, which assesses the deal's net benefits to the economy, including job impacts and technological development [4]. - Canadian Industry Minister Melanie Joly indicated that the companies have not yet sufficiently demonstrated the economic advantages of the merger [4]. Group 4: Future Actions - The Osoyoos Indian Band is prepared to take legal action against the companies if the merger proceeds without adequate consultation [9]. - Teck has expressed a commitment to engage meaningfully with Indigenous governments affected by their operations as the merger progresses [8].

Core Viewpoint - The proposed merger between Anglo American and Teck Resources aims to enhance infrastructure sharing at two significant mines in northern Chile, but analysts indicate potential challenges in securing stakeholder approval [1] Company Summary - The merger proposal reflects Anglo American's and Teck's long-standing ambitions to collaborate on infrastructure at their respective mining operations in northern Chile [1] - Analysts express skepticism regarding the feasibility of the merger, highlighting potential hurdles in gaining necessary buy-in from stakeholders [1] Industry Summary - The mining industry in northern Chile is characterized by significant infrastructure needs, and the proposed merger could reshape operational efficiencies if successful [1] - The merger could set a precedent for future collaborations in the mining sector, particularly in regions with shared resources [1]

By Daina Beth Solomon and Fabian Cambero SANTIAGO (Reuters) -The proposed Anglo American-Teck merger has revived long-standing ambitions to share infrastructure at two major mines in northern Chile, but analysts say the plan could face hurdles to gain buy-in from Swiss miner and trader Glencore. Glencore is an equal partner with London-listed Anglo at Collahuasi, one of the world's largest copper deposits that sits about 10 kilometers (6.21 miles) from Canadian miner Teck's flagship Quebrada Blanca mine. ...

(Bloomberg) -- Anglo American Plc and Teck Resources Ltd. haven’t done enough yet to show the advantages of their merger to the Canadian economy, said the country’s industry minister, who plans to meet with the companies’ chief executive officers next week.  “There have been conversations with the companies, and clearly we wanted to make sure that there would be a net benefit to Canada. But I think right now that it’s not enough,” Melanie Joly told reporters Tuesday morning in Ottawa. The government will ...

Agnico Eagle Mines isn’t considering buying Teck Resources, according to its CEO https://t.co/EjAaCXRx0b ...

Group 1 - The Competition Bureau Canada is set to review the proposed $53 billion (C$72.85 billion) merger between Anglo American and Teck Resources, focusing on potential anti-competitive impacts [1][3] - The merger aims to create a new entity, Anglo Teck, which will be positioned as a Canada-based global critical minerals producer [1] - Both companies claim that the merger will enhance portfolio quality, resilience, and strategic positioning, with projected annual pre-tax synergies of around $800 million (£585.61 million) by the end of the fourth year post-completion [2] Group 2 - Canada's Prime Minister, Mark Carney, has mandated that Anglo American must relocate its headquarters to Canada to proceed with the acquisition of Teck Resources [3][4] - Anglo American has confirmed plans to move its headquarters to Vancouver after the deal closes, indicating familiarity with the Canadian operational setup [4]

Core Viewpoint - Canadian Prime Minister Carney has stated that any company wishing to acquire Teck Resources must agree to relocate its headquarters to Canada, indicating a significant shift in regulatory stance towards foreign acquisitions in the mining sector [1]. Group 1: Acquisition Details - Anglo American and Teck Resources announced a merger agreement on September 9, where Anglo American will acquire all shares of Teck Resources [1]. - The merged entity is proposed to be named Anglo Teck, with its headquarters based in Canada, pending regulatory approval [1]. - This merger could represent one of the largest mining sector consolidations globally in over a decade [1]. Group 2: Regulatory Environment - Since 2024, Canada has tightened regulations on foreign acquisitions of key mineral companies, making such transactions significantly more challenging [1]. - Carney's insistence on the headquarters relocation condition has likely reduced the number of potential competing bidders for Teck Resources [1]. Group 3: Industry Implications - The requirement for a multinational mining company to relocate its global headquarters to Canada is unprecedented, highlighting a new trend in national policy towards foreign investment in critical resources [1].

如果完成，合并后的Anglo-Teck将跻身全球五大铜生产商之列，年产量将达到135万吨。相比之下，Escondida矿去年生产128万吨铜。这笔交易也将成为矿企 十年来最大的一笔交易。 SHMET 网讯：9月14日（周日），分析师表示，英美资源集团（Anglo American）和泰克资源（Teck Resources）计划的价值530亿美元的合并，可能在本世 纪30年代初创造出全球最大的铜矿，超越必和必拓旗下位于智利的Escondida铜矿。 该交易的核心是泰克资源的Quebrada Blanca（QB）矿和英美资源集团的Collahuasi矿的整合。行业分析师表示这两个矿山每年可生产约100万吨铜。 CRU Group分析师William Tankard在一份报告中称："Collahuasi-QB综合体的铜产量绝对有可能在本世纪30年代初超过Escondida矿的水平。" 拟议中的一条15公里长的传送带将把Collahuasi矿高品位矿石和QB的加工设施连接起来，增加的产量相当于一个新矿产量。该系统预计将在2030年至2049年 期间每年额外交付17.5万吨铜，且和独立开发相比，成本更低且工期更短。 两 ...

Core Viewpoint - Canada's antitrust regulator will conduct a review of the proposed merger between Anglo American and Teck Resources [1] Group 1 - The merger involves two significant players in the mining industry, Anglo American and Teck Resources [1]