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Anglo American’s multibillion-dollar “merger of equals” with Canadian copper miner Teck Resources is inching closer, with the merged group announcing its executive leadership team.The merged group is set to have its headquarters in Vancouver.The group, which will be called Anglo Teck, will be led by Anglo’s CEO and South African mining executive Duncan Wanblad, who will be deputised by Teck’s boss Jonathan Price, who will double up as chief strategy officer.Anglo’s CFO John Heasley and COO Ruben Fernandes will retain their roles in the merged outfit, which will become a significant copper producer — a commodity that has sparked industry consolidation.Another Anglo executive, Alison Atkinson, will assume the role of chief technical officer and CEO of crop nutrients.Teck’s chief commercial officer, Ian Anderson, will fill the role of chief people officer, while Lyndon Arnall will be the chief legal officer, the role he now holds at Teck.Karla Mills, the chief project development officer at Teck, will hold the role of chief projects officer in the combined business. Anglo’s Matt Walker will retain the role of CEO of the marketing business.Wanblad said it was all systems go for the transformational merger. “Together, we are forming a global metals and minerals powerhouse offering investors more than 70% exposure to copper. As the incoming CEO of Anglo Teck, I have utmost confidence in the highly capable executive and regional leadership teams that I have set out today, benefiting from their track records of delivery and their diversity of global experience.“I look forward to working with the team over the coming years, from our headquarters in Canada, as we establish Anglo Teck and deliver the significant value from this formidable combination.”Wanblad stressed that it was not an easy task to build a new leadership team based on the deep talent bench of both groups.“When combining two companies and creating a new executive team, we inevitably have to make some difficult choices. For departing members of Anglo American’s and Teck’s executive leadership teams, we will thank them for their exceptional contributions at the right time as they embark on the next stages of their lives and careers after the merger has completed.”Anglo will retain its secondary listing on the JSE, where it is valued at R1-trillion, up 91% over the past three years and more than 33% this year.Anglo has spent the past two years cleaning up its portfolio to focus on copper, premium iron ore and crop nutrients as part of a “self-help” plan speeded up after two bids by BHP to buy the group — attracted by its copper portfolio.Sheila Murray, the chair of Teck, will chair the board of Anglo Teck. Price will also sit on the board, alongside Wanblad and Heasley as executive directors.Business Day
