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The copper wars are here: Mega merger could trigger battle of the mining giants

Stephen Bartholomeusz Senior business columnist September 10, 2025 — 12.06pm

There’s a $75 billion-plus question mark hanging over the $US50 billion merger of Anglo American and Canada’s Teck Resources unveiled overnight. Which one, or ones, of the mining sector’s heavyweights will attempt to gatecrash their party?

With both Anglo and Teck having been targeted unsuccessfully in the past – Anglo by BHP last year and Teck in 2023 by Glencore – and all the miners in a scramble to lift their copper exposure, it is inevitable that BHP, Glencore and Rio, among others, will have opened their M&A playbooks in response to this merger.

Between them, Anglo and Tec

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