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Anglo American and Teck Agree to Create $53 Billion Copper Giant Amid AI Boom
Anglo American and Teck Agree to Create $53 Billion Copper Giant Amid AI Boom
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BTCCSquare news:
Anglo American's acquisition of Teck Resources forms a $53 billion copper powerhouse, strategically timed as data centers demand more electricity to fuel AI expansion. The new entity, Anglo Teck, will boast over 70% copper exposure, with headquarters in Vancouver and primary listing in London.
Copper prices surged 15% this year, driven by dual forces: AI infrastructure needs and renewable energy transitions. The rally paused after Trump's 50% import tariffs took effect in August, cooling record highs spurred by pre-tariff stockpiling.
Shareholders will split ownership 62.4%-37.6% in favor of Anglo American. The merged company will trade across five global exchanges, positioning itself as a critical supplier in the electrification megatrend.
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