The Canadian government is urging Anglo American PLC to formally redomicile to Canada as it continues its review of the British mining giant’s proposed takeover of Teck Resources Ltd.The Globe and Mail reports that sources have said that despite Anglo having already pledged to relocate its global headquarters from London to Vancouver, adopt the new corporate name Anglo Teck, and relocate several senior executives — including Chief executive Duncan Wanblad and CFO John Heasley — to Canada, Ottawa is still asking for deeper commitments.In addition to moving its head office, the federal government is pressing Anglo to legally redomicile in Canada, a step that would turn it into a Canadian company and subject Anglo to Canadian tax law, financial reporting rules, and domestic oversight of future mergers and acquisitions.According to sources, Ottawa is also urging Anglo to move its primary stock listing from the London Stock Exchange to the Toronto Stock Exchange, a measure Anglo is not willing to concede on.In a September interview with The Globe and Mail, Wanblad — Anglo’s South African CEO — said the company intends to continue making Britain its legal home and keep London as its primary listing, with a secondary listing in Johannesburg while adding Toronto and New York.“London is very good for what it is that we’re trying to do here,” Wanblad said.Anglo announced in September that it planned to acquire Vancouver-based Teck in an all-stock transaction. .WATCH: What the proposed Anglo Teck merger means for Canada's mineral industry .The combined company — to be named Anglo Teck — would form one of the world’s largest copper producers in history, headquartered in Vancouver, with the overall value of the merger, including debt, estimated at more than $70 billion.At the time, BNN Bloomberg reported that Industry Minister Mélanie Joly felt Anglo’s promises didn’t go far enough and said she would only approve the merger if it demonstrates a “net benefit to Canada” under the Investment Canada Act (ICA) as well as raises no concerns with regard to national security.The merger is coming at a sensitive time, as over the past two decades the federal government has allowed foreign companies such as Vale SA of Brazil, Glencore PLC of Switzerland, and Anglo-Australian giant Rio Tinto PLC to acquire many of Canada’s biggest miners such as Alcan Inc. and Falconbridge Ltd.Approving the loss of yet another major Canadian company will put pressure on Prime Minister Mark Carney in light of his recent emphasis that a strong domestic critical-minerals sector is crucial to Canada’s economic sovereignty.In 2024, Teck also sold off a large part of its business, with Glencore acquiring a 77% stake, and the remaining 23% going to Japan’s Nippon Steel and South Korea’s POSCO.The Globe and Mail has reported that Teck held preliminary talks with Vale Base Metals Ltd. — a Canada-based division of Brazil’s Vale with significant domestic operations — before agreeing to Anglo’s offer..BC chief says it's 'unconscionable' Anglo, Teck consider mining merger without indigenous approval.Vale Base Metals operates major nickel mines in Sudbury and maintains its headquarters in Toronto.Despite the ongoing setbacks, Teck continues to defend the deal.In a statement to the Western Standard, a spokesperson said the proposed merger of equals “will create a Canadian-based global critical minerals champion, with significant economic, social, and strategic benefits for Canada. We are continuing to engage constructively with the Government of Canada through the ICA process regarding this opportunity to strengthen Canada’s critical minerals sector.”Ottawa’s review of the deal is expected to continue well into 2026, with shareholders of both companies set to vote on the deal next month.Teck shareholders must approve the acquisition with at least a two-thirds majority for it to pass.The Western Standard reached out to Anglo American for comment.
