London, June 12, 2026, 10:03 BST
- Anglo American traded at 3,960.00 GBX on the London market, gaining 4.10%. The FTSE 100 lifted 1.33%.
- AAL added to Thursday’s 2.48% jump, beating the FTSE 100.
- Investors are watching the Teck merger, copper exposure, the $4.5 billion special dividend plan and moves to simplify the portfolio.
Anglo American plc shares jumped in London Friday, carrying forward a two-day bounce. Investors picked up the FTSE 100 miner as it pushes on with copper restructuring. Shares traded at 3,960.00 GBX at 10:03 a.m., up 156.00p or 4.10%, after swinging between 3,890.00p and 4,000.18p, Davy’s LSE data showed.
Anglo American rose 2.48% to £38.04 on Thursday, outpacing the FTSE 100, which added 0.48% for the day. MarketWatch reported the stock is still trading 10.26% under its 52-week peak of £42.39 set on June 2, with volume at 2.4 million shares, below the stock’s 50-day average.
Mining stocks moved again as traders watched copper bets and waited on the Anglo American–Teck Resources tie-up. The Wall Street Journal reported Anglo American stock climbed after UBS turned positive, saying the Teck deal could make investors see the company more as a copper miner. UBS projects copper will contribute 80% of Anglo’s EBITDA by 2027.
Anglo American and Teck agreed to merge in September. They said the new Anglo Teck group would set up headquarters in Canada and rank among the world’s top five copper producers, with over 70% of its business tied to copper. Anglo American shareholders are set to get around 62.4% of the merged company, while Teck holders would get about 37.6%. Anglo American also plans to pay a $4.5 billion special dividend, or roughly $4.19 per share, before the deal closes.
Chief Executive Duncan Wanblad called the deal the next phase of Anglo’s overhaul, saying Anglo Teck would be “at the forefront of our industry” in supplying responsibly produced critical minerals. The two companies said in their merger statement they see about $800 million in annual pre-tax synergies by the end of year four. Anglo American
The rally is tied to Anglo’s move out of assets seen as less important to its main business. In May, Anglo said it would sell its Australian steelmaking coal mines to Dhilmar for as much as $3.88 billion—$2.3 billion upfront and up to $1.58 billion depending on coal prices. Anglo plans to use that money to pay down debt. “Through this transaction, we will complete our exit from steelmaking coal,” Wanblad said at the time. Reuters
Risks still hang over the investment case. The Times said Friday that the share price already bakes in much of the copper upside. Investors are looking at merger-execution risk, Chinese regulatory sign-off, questions about copper-price durability and tight watch on a critical Chilean environmental permit. Reuters reported that Codelco and Anglo plan separate environmental reviews for the Andina-Los Bronces project in Chile. It’s a complicated approval process for a mine that aims to bring in about 120,000 metric tons of copper a year starting 2030 through 2051.
Anglo American’s next big event is its Q2 2026 production report, set for July 23 at 06:00 GMT. Before that, the stock should stay closely tied to copper prices, updates on the Teck deal, and how much faith investors have in the new Anglo Teck setup sticking to its copper earnings plan.
