London, May 1, 2026, 17:02 BST
- Shareholders at Anglo American gave the nod to all 21 resolutions at the AGM, signing off on the final dividend and endorsing every board re-election.
- China still needs to sign off on the deal from an antitrust perspective—that competition-law approval is the last major barrier for the Teck merger.
- London shares edged up at Friday’s close, following a stronger rally seen the previous day.
Anglo American secured shareholder approval for all 21 items on the ballot at this week’s annual meeting, reinforcing the board’s mandate as it moves forward with the merger plan with Teck Resources and a sweeping portfolio overhaul. The final dividend passed with 99.95% backing. CEO Duncan Wanblad’s re-election saw 99.35% support. The lowest margin went to the share buyback authority—still, it garnered 87.93%.
This vote takes on new urgency as Anglo pushes to overhaul its business before acquisition risks drag on into 2027. The miner, listed in London, is narrowing its focus to copper, high-grade iron ore, and crop nutrients. Steelmaking coal, nickel, and De Beers—the diamond arm—are all marked for sale or spin-off.
Regulators are now driving the Teck deal’s timeline. Anglo this week reiterated its expectation to close the merger somewhere between September 2026 and March 2027. With South Korea’s green light in hand, only China’s antitrust approval remains as the last significant hurdle.
Wanblad told shareholders the merger had moved forward quickly after securing Investment Canada Act clearance and backing from both companies’ shareholders. According to him, the deal means Anglo shareholders will see over 70% of their exposure shift to copper, a metal essential for power grids, electric vehicles, and data centres.
Anglo’s London-listed stock finished Friday at 3,590 pence, ticking up 0.10%. That followed Thursday’s 2.03% climb. Still, shares are trading under the 52-week peak of 3,877 pence, Investing.com data show.
The operational side shows more stability than the company’s broader outlook. Anglo’s first-quarter copper output edged up 1% to 170,400 tonnes. Premium iron ore volumes slipped 2%, landing at 15.2 million tonnes. Steelmaking coal took a bigger hit, down 31%—Moranbah North disruptions and weather at Dawson dragged on production. Still, the company left its guidance for continuing operations intact.
Competition here is fierce. According to Reuters, the Anglo-Teck merger would form the globe’s fifth-largest copper miner, with annual output topping 1.2 million tonnes. The deal? It’s also designed to fend off bids from bigger names like BHP and Glencore.
BHP dropped its renewed bid for Anglo in November, just two weeks ahead of the planned shareholder vote on the Teck deal. The company said it still believed in the strategic logic but trusted its own path for growth. Back then, Berenberg analysts noted that BHP’s exit sharply lowered “interloper risk” for the Anglo-Teck tie-up, provided approvals came through. Reuters
The risk hasn’t gone away. China might need more time, diamond demand is still soft, and Anglo has yet to extract value from assets on the block. Any holdup would force management to juggle both merger talks and multiple divestments simultaneously.
Anglo’s Friday filing, a standard post-AGM step, established the shareholder tally. As of 6 p.m. on April 30, the company reported 1,178,050,272 ordinary shares and matching total voting rights. There were no shares in treasury, according to the company.
