SANTIAGO (Reuters) -The agreement between Anglo American and Teck brings together assets of “extraordinary value,” the chairman of Chile’s state-run copper producer Codelco, Maximo Pacheco, told Reuters on Tuesday.
London-listed miner Anglo American and Canada’s Teck Resources announced their merger earlier on Tuesday, in what would be the biggest mining sector M&A deal in over a decade.
Codelco is Teck’s partner in Quebrada Blanca and Anglo American Sur.
Anglo American and Teck operate adjacent copper mines in Chile – Quebrada Blanca and Collahuasi – which are expected to deliver them operational benefits.
Pacheco said that Chile is consolidating with this agreement a global strategic leadership in copper.
(Reporting by Fabian Cambero; Editing by Louise Heavens)