Market Chatter: Anglo-American Faces China Copper Supply Condition for Approval of Teck Resources Merger

MT Newswires Live10-02 21:30

Anglo-American must commit to supplying China with copper to secure approval for its proposed $54 billion merger with Teck Resources (TECK), Reuters reported Friday, citing people familiar with the matter.

China's State Administration for Market Regulation is seeking assurance on the supply of copper concentrate, the report said.

"We are making good progress towards completion and are working constructively with the Chinese regulator, SAMR, through its structured review process," Anglo American said in an emailed statement to MT Newswires. It did not comment on the reported conditions for Chinese regulatory approval.

Teck Resources and the regulator did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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