Teck Merger Gains Could Face Glencore Copper Deal Hurdles in Chile
Glencore may complicate Anglo American’s $53-billion merger with Teck as the miners work out how to combine Chile’s Collahuasi assets with Teck’s nearby Quebrada Blanca. Anglo and Glencore are discussing a 15-km conveyor to route Collahuasi ore to QB processing, projected to add 175,000 tonnes of copper per year from 2030. An agreement could raise annual EBITDA by up to $1.4 billion, but valuations and how to share synergies remain to be aligned.