De Beers’ Parent Anglo American Merging With Canadian Copper Company

By Rob Bates | September 10, 2025

De Beers’ parent company Anglo American is merging with Canadian copper miner Teck Resources, in what’s being billed as one of the biggest mining mergers ever.

The two companies will have a combined market capitalization of over $50 billion.

As part of this “merger of equals,” Anglo will move its headquarters to Canada from its traditional home base in London. Anglo CEO Duncan Wanblad will head the new company, with Teck CEO Jonathan Price serving as his deputy.

The new company, Anglo Teck, still plans to dispose of De Beers, said Wanblad in a press conference following the announcement.

“We are now through the first round of the divestment process, and we’re into the second round,” he said, “which includes engagement with the government of Botswana. So, that’s where we are, moving pretty much as we had hoped that it might be at this particular stage.”

The deal is not conditional on the De Beers disposal, he added.

Anglo currently owns 85% of De Beers, with the government of Botswana owning the other 15%. Botswana has said that it wants to increase its stake in the company.

(Photo courtesy of Anglo American)