The Latest Breaking News from Anglo American

Deal will create $53bn mining giant but raises fears of job cuts as headquarters moves to Vancouver

London-listed Anglo American is to merge with Canada’s Teck Resources in a deal that creates a copper-focused mining giant worth more than $50 billion.

In London, defence stocks fell sharply amid hopes of peace in Ukraine with Babcock International, BAE Systems and Rolls-Royce all down.

Peabody Energy Corp. (NYSE:BTU) has abandoned its planned $3.8 billion purchase of steelmaking coal assets from Anglo American (OTC:AAUKF), citing a material adverse change following a March fire at the Moranbah North mine in Australia. The incident left the mine idled with no clear timeline for resuming longwall production.

Donald Trump and Vladimir Putin will meet later in Alaska.

Botswana is reportedly seeking a controlling stake in the leading diamond producer De Beers, potentially complicating Anglo American's (OTCQX:AAUKF) plans for the sale.

Volcanic eruptions at Earth’s surface have significant consequences. Smaller ones can scare tourists on Mount Etna or disrupt air traffic.

The formation of Valterra, unveiled earlier this year as part of Anglo's broader portfolio review, has been officially framed as an effort to unlock long-term value, streamline operational focus, and create a platform better positioned to weather both regulatory and market volatility.

The FTSE 100 index rose 16.8 points, 0.2%, at 8,735.60.

The FTSE 100 index closed down 51.67 points, 0.6%, at 8,791.80.

Lower ore grades, water shortages, and environmental restrictions present challenges for companies in the world's top copper-producing nation