Joly says Teck and Anglo haven't done enough so far to show merger has net benefit

OTTAWA - Industry Minister Mélanie Joly says Teck Resources Ltd. and Anglo American PLC  haven't done enough so far to show their merger will be a net benefit for Canada. Heading into a cabinet meeting Tuesday morning, the minister said the government needs to think about the longer term as it weighs approval of the deal. Joly says more conversations are needed and that's why she will be meeting next week with the CEOs of both companies. The two miners pitched the deal as a "merger of equals" when it was announced last week even though Anglo American is worth more than double Teck. The plan would see the headquarters of the merged company, to be called Anglo Teck, reside in Vancouver where Teck is based. The deal is subject to review under the Investment Canada Act, which can be used to block deals deemed not in the national interest. This report by The Canadian Press was first published Sept. 16, 2025. Companies in this story: (TSX:TECK.B)